Stephen L. Cheung|Morten Hedegaard|Stefan Palan
To see is to believe: Common expectations in experimental asset markets
University of Sydney|IZA - Institute of Labor Economics|University of Copenhagen|Universität Innsbruck|University of Graz
experimentally manipulate agents information regarding rationality others setting previous studies found irrationality present namely asset market experiments introduced smith et al 1988 recent studies suggest mispricing markets may artefact confusion reduced training subjects understand diminishing fundamental value reconsider view propose made public knowledge training occurred may also reduce uncertainty behavior others facilitate formation common expectations design disentangles direct effect training indirect effect public knowledge results demonstrate distinct statistically significant effect public knowledge training alone