Price Bubbles, Gender, and Expectations in Experimental Asset Markets Holt Porzio Song Data

Author:Holt, Charles, AS-EconomicsUniversity of Virginia

Price Bubbles, Gender, and Expectations in Experimental Asset Markets
European Economic Review 2017

Charles A. Holt, Megan Porzio, and Michelle Yingze Song

This paper reports results of laboratory markets for a risky asset with a “flat” fundamental value that equates expected dividends to the return on a safe asset. Subjects were sorted by gender in an unobtrusive manner, and bubbles in this setting are pervasive and of comparable magnitude for both genders. In contrast, a robustness check done with a declining fundamental value did generate larger bubbles for groups of males. Elicited price forecasts tend to trail share prices as they rise and exceed prices as they fall, a pattern that is tracked by a “double adaptive” forecasting model.

Price Bubbles, Gender, Asset Markets, Forecasting, Adaptive Expectations, Risk Aversion, Cognitive Abilities, Laboratory Experiments
Contributor:Holt, Charles, EconomicsUniversity of Virginia
Source Citation:

Holt, Charles, Megan Porzio, and Michelle Song (2017) “Price Bubbles and Expectations in Asset Markets: Gender and Risk Aversion,” European Economic Review, 100, 72-94.

University of Virginia
Published Date:
August 19, 2019

The data structures are described in the Readme file.