Show simple item record

dc.contributor.author
Sornette, Didier
dc.contributor.author
Andraszewicz, Sandra
dc.contributor.author
Wu, Ke
dc.contributor.author
Murphy, Ryan O.
dc.contributor.author
Rindler, Philipp
dc.contributor.author
Sanadgol, Dorsa
dc.date.accessioned
2020-07-27T07:28:23Z
dc.date.available
2020-07-10T02:45:03Z
dc.date.available
2020-07-27T07:28:23Z
dc.date.issued
2020-06-18
dc.identifier.issn
1864-6042
dc.identifier.other
10.5018/economics-ejournal.ja.2020-20
en_US
dc.identifier.uri
http://hdl.handle.net/20.500.11850/425655
dc.identifier.doi
10.3929/ethz-b-000425655
dc.description.abstract
To study coordination in complex social systems such as financial markets, the authors introduce a new prediction market set-up that accounts for fundamental uncertainty. Nonetheless, the market is designed so that its total value is known, and thus its rationality can be evaluated. In two experiments, the authors observe that quick consensus emerges early yielding pronounced mispricing, which however does not show the standard "bubble-and-crash". The set-up is implemented within the xYotta collaborative platform (https://xyotta.com). xYotta's functionality offers a large number of extensions of various complexity such as running several parallel markets with the same or different users, as well as collaborative project development in which projects undergo the equivalent of an IPO (initial public offering) and whose subsequent trading matches the role of financial markets in determining value. xYotta is thus offered to researchers as an open source software for the broad investigation of complex systems with human participants.
en_US
dc.format
application/pdf
en_US
dc.language.iso
en
en_US
dc.publisher
Kiel Institute for the World Economy
en_US
dc.rights.uri
http://creativecommons.org/licenses/by/4.0/
dc.subject
Experimental asset market
en_US
dc.subject
Prediction markets
en_US
dc.subject
Uncertainty
en_US
dc.subject
Experimental economics
en_US
dc.title
Overpricing persistence in experimental asset markets with intrinsic uncertainty
en_US
dc.type
Journal Article
dc.rights.license
Creative Commons Attribution 4.0 International
ethz.journal.title
Economics: The Open-Access, Open-Assessment Journal
ethz.journal.volume
14
en_US
ethz.journal.abbreviated
Econ., J. artic.
ethz.pages.start
14
en_US
ethz.size
53 p.
en_US
ethz.version.deposit
publishedVersion
en_US
ethz.code.jel
JEL - JEL::C - Mathematical and Quantitative Methods::C9 - Design of Experiments::C90 - General
en_US
ethz.code.jel
JEL - JEL::D - Microeconomics::D4 - Market Structure, Pricing, and Design::D47 - Market Design
en_US
ethz.code.jel
JEL - JEL::D - Microeconomics::D8 - Information, Knowledge, and Uncertainty::D80 - General
en_US
ethz.identifier.wos
ethz.identifier.scopus
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
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 (emeritus) / Sornette, Didier (emeritus)
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
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 (emeritus) / Sornette, Didier (emeritus)
ethz.relation.isNewVersionOf
10.3929/ethz-b-000392974
ethz.date.deposited
2020-07-10T02:45:07Z
ethz.source
WOS
ethz.eth
yes
en_US
ethz.availability
Open access
en_US
ethz.rosetta.installDate
2020-07-27T07:29:29Z
ethz.rosetta.lastUpdated
2023-02-06T20:14:31Z
ethz.rosetta.versionExported
true
ethz.COinS
ctx_ver=Z39.88-2004&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.atitle=Overpricing%20persistence%20in%20experimental%20asset%20markets%20with%20intrinsic%20uncertainty&rft.jtitle=Economics:%20The%20Open-Access,%20Open-Assessment%20Journal&rft.date=2020-06-18&rft.volume=14&rft.spage=14&rft.issn=1864-6042&rft.au=Sornette,%20Didier&Andraszewicz,%20Sandra&Wu,%20Ke&Murphy,%20Ryan%20O.&Rindler,%20Philipp&rft.genre=article&rft_id=info:doi/10.5018/economics-ejournal.ja.2020-20&
 Search print copy at ETH Library

Files in this item

Thumbnail

Publication type

Show simple item record