Copious laboratory and some field evidence suggests that people err in predicting others'
behavior, learning from others' actions, and best responding to their beliefs. Some of these …

We model a financial market where some traders of a risky asset do not fully appreciate what
prices convey about others' private information. Markets comprising solely such “cursed” …

The efficiency of financial markets and their potential to produce bubbles are central topics
in academic and professional debates. Yet, little is known about the contribution of financial …

We investigate the informational content of prices in financial asset markets. To do so, we
use a large number of market experiments in which the amount of information held by …

Recently, large companies have been experimenting with corporate prediction markets run
among their employees. In the present study, we develop an analytical model to analyze the …

The risk attitudes of market participants have an important influence on market behavior. We
measure risk aversion, prudence and temperance in a sample of 173 financial experts …

We study how the relationship between independent private information signals affects
information aggregation in laboratory asset markets. We employ two mechanisms, a …

We examine how professional traders behave in two financial market experiments. First,
participants trade an asset over multiple periods after receiving private information about its …

We investigate the impact of cognitive skills and economic preferences on fund managers'
professional decisions by running a battery of experiments with them. First, we find that fund …

Considerable human judgment is involved in demand forecasting. When managers judge
demands under uncertainty, they inevitably use signals to update their demand information …