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A Review of Research into Smith, Suchanek and Williams Markets

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  • Stefan Palan

    (Institute of Banking and Finance, Karl-Franzens-University Graz
    Department of Banking and Finance, Leopold-Franzens-University Innsbruck)

Abstract

This article discusses the literature on bubbles and crashes in the most commonly used experimental asset market design, introduced by Smith, Suchanek and Williams (1988). It documents the main findings based on the results from 33 published articles and 25 working papers. The qualitative analysis and interpretation is furthermore complemented by summary statistics from an extensive database of close to 1600 individual bubble measure observations.

Suggested Citation

  • Stefan Palan, 2013. "A Review of Research into Smith, Suchanek and Williams Markets," Working Paper Series, Social and Economic Sciences 2013-04, Faculty of Social and Economic Sciences, Karl-Franzens-University Graz.
  • Handle: RePEc:grz:wpsses:2013-04
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    References listed on IDEAS

    as
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