This table shows the software packages used in a selection of asset market experiments, in particular in those who study overvaluation and bubbles.
| Year | Journal | Paper | Exp. Software | Chart | Scale |
|---|---|---|---|---|---|
| 2017 | EER | Holt, C. A., Porzio, M., & Song, M. Y. (2017). Price bubbles, gender, and expectations in experimental asset markets. European Economic Review, 100, 72-94. | Veconlab | ? | ? |
| 2017 | EER | Razen, M., Huber, J., & Kirchler, M. (2017). Cash inflow and trading horizon in asset markets. European Economic Review, 92, 359-384. | zTree | yes | dynamic, depending on max. price in period: [0,200] --> 210; [200,500] --> 525; >500 --> 1050 |
| 2016 | JBEF | Giusti, G., Jiang, J. H., & Xu, Y. (2016). Interest on cash, fundamental value process and bubble formation: An experimental study. Journal of Behavioral and Experimental Finance, 11, 44-51. | zTree | no | - |
| 2015 | JESA | Cason, T. N., & Samek, A. (2015). Learning through passive participation in asset market bubbles. Journal of the Economic Science Association, 1(2), 170-181. | zTree | yes | static, 0 to 720 (= max. possible price) |
| 2015 | EER | Kirchler, M., Bonn, C., Huber, J., & Razen, M. (2015). The “inflow-effect”—Trader inflow and price efficiency. European Economic Review, 77, 1-19. | zTree | yes | dynamic, depending on max. price in period: [0,200] --> 210; [200,500] --> 525; >500 --> 1050 |
| 2015 | RoF | Andrade, E. B., Odean, T., & Lin, S. (2015). Bubbling with excitement: an experiment. Review of Finance, 20(2), 447-466. | ? | yes | |
| 2014 | J Beh Fin | Deck, C., Porter, D., & Smith, V. (2014). Double bubbles in assets markets with multiple generations. Journal of Behavioral Finance, 15(2), 79-88. | Zocalo | yes | |
| 2014 | EER | Cheung, S. L., Hedegaard, M., & Palan, S. (2014). To see is to believe: Common expectations in experimental asset markets. European Economic Review, 66, 84-96. | zTree | no | - |
| 2013 | Econ Inqu | Chan, K. S., Lei, V., & Vesely, F. (2013). Differentiated assets: An experimental study on bubbles. Economic Inquiry, 51(3), 1731-1749. | zTree | ? | ? |
| 2013 | JEDC | Fischbacher, U., Hens, T., & Zeisberger, S. (2013). The impact of monetary policy on stock market bubbles and trading behavior: Evidence from the lab. Journal of Economic Dynamics and Control, 37(10), 2104-2122. | zTree | no | - |
| 2012 | ExEc | Huber, J., & Kirchler, M. (2012). The impact of instructions and procedure on reducing confusion and bubbles in experimental asset markets. Experimental Economics, 15(1), 89-105. | zTree | yes | static, 0 to 1.8 times mean price from last period (1.8*50=90 in Period 1) |
| 2012 | AER | Kirchler, M., Huber, J., & Stöckl, T. (2012). Thar she bursts: Reducing confusion reduces bubbles. American Economic Review, 102(2), 865-83. | zTree | yes | static, 0 to 1.8 times mean price from last period (1.8*50=90 in Period 1) |
| 2012 | ExEc | Cheung, S. L., & Palan, S. (2012). Two heads are less bubbly than one: team decision-making in an experimental asset market. Experimental Economics, 15(3), 373-397. | zTree | no | - |
| 2012 | JEBO | Ackert, L. F., Kluger, B. D., & Qi, L. (2012). Irrationality and beliefs in a laboratory asset market: Is it me or is it you?. Journal of Economic Behavior & Organization, 84(1), 278-291. | zTree | no | - |
| 2012 | WP | Robin, S., Straznicka, K., & Villeval, M. C. (2012). Bubbles and incentives: an experiment on asset markets. | "We thank V. Lei for providing us the computer software used in this experiment." | no | - |
| 2012 | J Econ Psych | Schoenberg, E. J., & Haruvy, E. (2012). Relative performance information in asset markets: An experimental approach. Journal of Economic Psychology, 33(6), 1143-1155. | zTree | no | - |
| 2011 | JEDC | Oechssler, J., Schmidt, C., & Schnedler, W. (2011). On the ingredients for bubble formation: informed traders and communication. Journal of Economic Dynamics and Control, 35(11), 1831-1851. | zTree | yes | static, maximum price times 1.1 (only after trading) |
| 2011 | WP | Hargreaves Heap, S. P., & Zizzo, D. (2011). Emotions and chat in a financial markets experiment. | zTree | ? | ? |
| 2011 | WP | Cheung, S. L., & Coleman, A. (2011). League-table incentives and price bubbles in experimental asset markets. | zTree | no | - |
| 2010 | J Econ Stud | Noussair, C. N., & Powell, O. (2010). Peaks and valleys: Price discovery in experimental asset markets with non-monotonic fundamentals. Journal of Economic Studies, 37(2), 152-180. | zTree | no | - |
| 2010 | WP | Michailova, J. (2010). Overconfidence and bubbles in experimental asset markets. | zTree | ? | ? |
| 2010 | JEBO | Corgnet, B., Kujal, P., & Porter, D. (2010). The effect of reliability, content and timing of public announcements on asset trading behavior. Journal of Economic Behavior & Organization, 76(2), 254-266. | Zocalo | ? | ? |
| 2010 | JEBO | Palan, S. (2010). Digital options and efficiency in experimental asset markets. Journal of Economic Behavior & Organization, 75(3), 506-522. | zTree | no | - |
| 2009 | Pac Econ Rev | Lei, V., & Vesely, F. (2009). Market efficiency: evidence from a no‐bubble asset market experiment. Pacific Economic Review, 14(2), 246-258. | zTree | no | - |
| 2009 | J Fin Quant A | Ackert, L., Charupat, N., Deaves, R., & Kluger, B. (2009). Probability Judgment Error and Speculation in Laboratory Asset Market Bubbles. Journal of Financial and Quantitative Analysis, 44(3), 719-744. | FTS (Financial Trading System) | yes | |
| 2008 | Williams, A. W. (2008). Price bubbles in large financial asset markets. Handbook of Experimental Economics Results, 1, 242-246. | ? | ? | ? | |
| 2007 | WP | Levine, S. S., & Zajac, E. J. (2007). The institutional nature of price bubbles. | zTree | no | - |
| 2006 | SEJ | Ackert, L. F., Charupat, N., Church, B. K., & Deaves, R. (2006). Margin, short selling, and lotteries in experimental asset markets. Southern Economic Journal, 419-436. | FTS (Financial Trading System) | yes | |
| 2006 | JoF | Haruvy, E., & Noussair, C. N. (2006). The effect of short selling on bubbles and crashes in experimental spot asset markets. The Journal of Finance, 61(3), 1119-1157. | zTree | ? | ? |
| 2006 | WP | Davies, T. (2006). Irrational gloominess in the laboratory. University of Arizona. | MarketLink | no | - |
| 2006 | Pac Econ Rev | Noussair, C., & Tucker, S. (2006). Futures markets and bubble formation in experimental asset markets. Pacific Economic Review, 11(2), 167-184. | Computer program developed by Paul Healy | ? | ? |
| 2006 | Rev Int Econ | Childs, J., & Mestelman, S. (2006). Rate‐of‐return parity in experimental asset markets. Review of International Economics, 14(3), 331-347. | "Software written by members of the McMaster Experimental Economics Laboratory specifically for simultaneous double-auction asset market experiments. Details of this environment can be obtained from the first author." | no | - |
| 2005 | WP | Bostian, A. J., Goeree, J., & Holt, C. A. (2005, September). Price bubbles in asset market experiments with a flat fundamental value. In Draft for the Experimental Finance Conference, Federal Reserve Bank of Atlanta September (Vol. 23, p. 2005). | Veconlab | ? | ? |
| 2005 | AER | Dufwenberg, M., Lindqvist, T., & Moore, E. (2005). Bubbles and experience: An experiment. American economic review, 95(5), 1731-1737. | zTree | no | - |
| 2002 | J Risk Unc | Kirchler, E., & Maciejovsky, B. (2002). Simultaneous over-and underconfidence: Evidence from experimental asset markets. Journal of Risk and Uncertainty, 25(1), 65-85. | zTree | no | - |
| 2002 | J Psych Fin Ma | Caginalp, G., Ilieva, V., Porter, D., & Smith, V. (2002). Do speculative stocks lower prices and increase volatility of value stocks?. The Journal of Psychology and Financial Markets, 3(2), 118-132. | ? | ? | ? |
| 2002 | WP | Lei, V., Noussair, C., & Plott, C. R. (2002). Asset bubbles and rationality: additional evidence from capital gains tax experiments. | MUDA | no | - |
| 2001 | ECMT | Lei, V., Noussair, C. N., & Plott, C. R. (2001). Nonspeculative bubbles in experimental asset markets: Lack of common knowledge of rationality vs. actual irrationality. Econometrica, 69(4), 831-859. | MUDA | no | - |
| 2001 | ExEc | Noussair, C., Robin, S., & Ruffieux, B. (2001). Price bubbles in laboratory asset markets with constant fundamental values. Experimental Economics, 4(1), 87-105. | MUDA | no | - |
| 2000 | Int. J. Ind. Organ. | Caginalp, G., Porter, D., & Smith, V. L. (2000). Overreaction, momentum, liquidity, and price bubbles in laboratory and field asset markets. | ESLDA ("The trading system is a an electronic double auction conducted on a local area network system developed by the Economic Science Laboratory at the University of Arizona") |
? | ? |
| 2000 | ET | Smith, V. L., Van Boening, M., & Wellford, C. P. (2000). Dividend timing and behavior in laboratory asset markets. Economic Theory, 16(3), 567-583. | PLATO | no | - |
| 2000 | AER | James, D., & Isaac, R. M. (2000). Asset markets: How they are affected by tournament incentives for individuals. American Economic Review, 90(4), 995-1004. | Computerized double auction trading program developed by Arlington Williams | ? | ? |
| 1998 | PNAS | Caginalp, G., Porter, D., & Smith, V. (1998). Initial cash/asset ratio and asset prices: An experimental study. Proceedings of the National Academy of Sciences, 95(2), 756-761. | ? | ? | ? |
| 1995 | JB | Porter, D. P., & Smith, V. L. (1995). Futures contracting and dividend uncertainty in experimental asset markets. Journal of Business, 509-541. | PLATO / MUDA | no | - |
| 1993 | King, R. R., Smith, V. L., Williams, A. W., & Van Boening, M. (1993). The robustness of bubbles and crashes in experimental stock markets. Nonlinear dynamics and evolutionary economics, 183-200. | PLATO | no | - | |
| 1993 | J Econ Edu | Williams, A. W., & Walker, J. M. (1993). Computerized laboratory exercises for microeconomics education: Three applications motivated by experimental economics. The Journal of Economic Education, 24(4), 291-315. | NovaNET | no | - |
| 1988 | ECMT | Smith, V. L., Suchanek, G. L., & Williams, A. W. (1988). Bubbles, crashes, and endogenous expectations in experimental spot asset markets. Econometrica: Journal of the Econometric Society, 1119-1151. | PLATO | no | - |