Overreactions, Momentum, Liquidity, and Price Bubbles in Laboratory and Field Asset Markets (2000)
Gunduz Caginalp, David Porter, Vernon L. Smith
Laboratory asset markets provide an experimental setting in which to observe investor behavior. Over more than a decade, numerous studies have found that participants in laboratory experiments...
Initial cash/asset ratio and asset prices: An experimental study
Caginalp, Gunduz, Porter, David, Smith, Vernon
A series of experiments, in which nine participants trade an asset over 15 periods, test the hypothesis that an initial imbalance of asset/cash will influence the trading price over an extended time....
Initial cash/asset ratio and asset prices: An experimental study
Caginalp, Gunduz, Porter, David, Smith, Vernon
A series of experiments, in which nine participants trade an asset over 15 periods, test the hypothesis that an initial imbalance of asset/cash will influence the trading price over an extended time....
Overreaction diamonds: precursors and aftershocks for significant price changes
Overreactions and other behavioral effects in stock prices can best be examined by adjusting for the changes in fundamentals. We perform this by subtracting the relative price changes in the net...
The dynamics of trader motivations in asset bubbles
Gunduz Caginalp, Vladimira Ilieva
Asset market experiments are analyzed by distinguishing, ex post facto, participants who trade on fundamentals versus those who trade on momentum (i.e., buying when the price is rising). The...