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dc.contributor.author
Andraszewicz, Sandra
dc.contributor.author
Wu, Ke
dc.contributor.author
Sornette, Didier
dc.date.accessioned
2020-02-19T14:22:37Z
dc.date.available
2020-02-19T14:59:41Z
dc.date.issued
2019
dc.identifier.uri
http://hdl.handle.net/20.500.11850/400491
dc.identifier.doi
10.3929/ethz-b-000392980
dc.description.abstract
A vast literature investigating behavioural underpinnings of financial bubbles and crashes relies on laboratory experiments. However, it is not yet clear how findings generated in a highly artificial environment relate to the human behaviour in the wild. It is of concern that the laboratory setting may create a confound variable that impacts the experimental results. To explore the similarities and differences between human behaviour in the laboratory environment and in a realistic natural setting, with the same type of participants, the authors translate a field study Sornette et al. (under review) with trading rounds each lasting six full days to a laboratory experiment lasting two hours. The laboratory experiment replicates the key findings from the field study but the authors observe substantial differences in the market dynamics between the two settings. The replication of the results in the two distinct settings indicates that relaxing some of the laboratory control does not corrupt the main findings, while at the same time it offers several advantages such as the possibility to increase the number of participants interacting with each other at the same time and the number of traded securities.
en_US
dc.format
application/pdf
en_US
dc.language.iso
en
en_US
dc.publisher
Kiel Institute for the World Economy (IfW)
en_US
dc.rights.uri
http://creativecommons.org/licenses/by/4.0/
dc.subject
Laboratoy expriment
en_US
dc.subject
Field experiment
en_US
dc.subject
Experimental asset market
en_US
dc.subject
Replication
en_US
dc.title
Behavioural effects and market dynamics in field and laboratory experimental asset markets
en_US
dc.type
Working Paper
dc.rights.license
Creative Commons Attribution 4.0 International
ethz.journal.title
Economics Discussion Papers
ethz.journal.volume
2019-33
en_US
ethz.size
52 p.
en_US
ethz.code.jel
JEL - JEL::D - Microeconomics::D8 - Information, Knowledge, and Uncertainty::D80 - General
en_US
ethz.publication.place
Kiel
en_US
ethz.publication.status
published
en_US
ethz.leitzahl
ETH Zürich::00002 - ETH Zürich::00012 - Lehre und Forschung::00007 - Departemente::02045 - Dep. Geistes-, Sozial- u. Staatswiss. / Dep. of Humanities, Social and Pol.Sc.::02527 - Institut für Verhaltenswissenschaften / Institute of Behavioral Sciences::03987 - Hölscher, Christoph / Hölscher, Christoph
en_US
ethz.leitzahl
ETH Zürich::00002 - ETH Zürich::00012 - Lehre und Forschung::00007 - Departemente::02120 - Dep. Management, Technologie und Ökon. / Dep. of Management, Technology, and Ec.::03738 - Sornette, Didier / Sornette, Didier
ethz.leitzahl.certified
ETH Zürich::00002 - ETH Zürich::00012 - Lehre und Forschung::00007 - Departemente::02045 - Dep. Geistes-, Sozial- u. Staatswiss. / Dep. of Humanities, Social and Pol.Sc.::02527 - Institut für Verhaltenswissenschaften / Institute of Behavioral Sciences::03987 - Hölscher, Christoph / Hölscher, Christoph
en_US
ethz.leitzahl.certified
ETH Zürich::00002 - ETH Zürich::00012 - Lehre und Forschung::00007 - Departemente::02120 - Dep. Management, Technologie und Ökon. / Dep. of Management, Technology, and Ec.::03738 - Sornette, Didier / Sornette, Didier
ethz.identifier.url
http://hdl.handle.net/10419/196166
ethz.date.deposited
2017-12-08T17:02:05Z
ethz.source
FORM
ethz.eth
yes
en_US
ethz.availability
Open access
en_US
ethz.rosetta.installDate
2020-02-19T14:59:48Z
ethz.rosetta.lastUpdated
2021-02-15T08:10:11Z
ethz.rosetta.versionExported
true
dc.identifier.olduri
http://hdl.handle.net/20.500.11850/392980
dc.identifier.olduri
http://hdl.handle.net/20.500.11850/219474
ethz.COinS
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