Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/81270
Authors: 
Dufwenberg, Martin
Lindqvist, Tobias
Moore, Evan
Year of Publication: 
2003
Series/Report no.: 
IUI Working Paper 588
Abstract: 
We investigate experimentally how the share of experienced traders in double-auction asset markets affects trading, in particular the occurrence of bubble-crash pricing patterns. In each session, six subjects trade in three successive market rounds and gain experience. In a fourth round, depending on the treatment, two or four experienced subjects are replaced by inexperienced subjects. The results are compared to earlier findings when all traders were either inexperienced or experienced. We explore what can be learned by analogy between these laboratory findings and the performance of naturally occurring markets.
Subjects: 
Asset Market
Bubble
Crash
Experience
Experiment
Speculation
JEL: 
C92
G12
Document Type: 
Working Paper

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