A Review of Bubbles and Crashes in Experimental Asset Markets Page 1 10 A REVIEW OF
BUBBLES AND CRASHES IN EXPERIMENTAL ASSET MARKETS Stefan Palan Karl-Franzens …

We review the latest research on experimental asset markets, where the values of the traded
assets are homogeneous across all agents. Such markets have been shown to be prone to …

This paper aims at providing an overview of several topics that have been addressed in the
field of experimental asset markets. Rather than being exhaustive in any single topic, this …

This paper aims to conduct a series of bubble diagnostic analysis over 35 representative
Chinese cities. We apply the Log-Periodic-Power-Law-Singularity (LPPLS) model to detect …

We propose a heterogeneous agent model for experimental closed-book call markets with
speculators, fundamental and noise traders. We provide structural estimates of the …

We run a learning-to-forecast experiment with an interest rate policy in which the interest
rate will increase/lower sharply when the deviation of asset prices from the fundamental …

For several decades now, behavioral finance has been integrating insights from the broad
social science perspective into research in financial economics. A large body of literature …

Modigliani and Miller showed the market value of the company is independent of its capital
structure, and suggested that dividend policy makes no difference to this law of one price …

We provide novel evidence about herd behavior and its impact on asset price bubbles in an
experimental financial market. We find that traders imitate quotes of those with the highest …

This paper compares the performance of a centralized trading institution, Double Auction
(DA), with a decentralized Over-the-Counter (OTC) trading institution in experimental asset …