Published in:CIRANO - Scientific Publications 2012s-01
Extent:
1 Online-Ressource (27 p)
Language:
English
DOI:
10.2139/ssrn.1999041
Identifier:
Origination:
Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments January 3, 2012 erstellt
Description:
We revisit the effect of traders' experience on price bubbles by introducing either one-third or two-thirds steady inflow of new traders in the repeated experimental asset markets. We find that bubbles are not significantly abated by the third repetition of the market with the inflow of new traders. The relative importance of experience to the formation of bubbles depends on the proportion of new traders in the market. Our findings identify a market environment where experience is not sufficient to eliminate price bubbles