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A Software for Asset Market Experiments

Listed author(s):
  • Stefan Palan

    ()

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

In this article we lay out requirements for an experimental market software for financial and economic research. We then discuss existing solutions. Finally, we introduce an open source market software which is characterized by extensibility and ease of use, while offering nearly all of the required functionality.

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File URL: http://static.uni-graz.at/fileadmin/sowi/Working_Paper/2014-01_Palan.pdf
File Function: First version, 2014
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Paper provided by Faculty of Social and Economic Sciences, Karl-Franzens-University Graz in its series Working Paper Series, Social and Economic Sciences with number 2014-01.

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Length: 33 pages
Date of creation: 13 Jun 2014
Publication status: Published as Palan, S., "GIMS – A Software for Asset Market Experiments", Journal of Behavioral and Experimental Finance 5, 2015, 1-14, DOI: 10.1016/j.jbef.2015.02.001
Handle: RePEc:grz:wpsses:2014-01
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  1. Thomas Dohmen & Armin Falk & David Huffman & Uwe Sunde & Jürgen Schupp & Gert G. Wagner, 2011. "Individual Risk Attitudes: Measurement, Determinants, And Behavioral Consequences," Journal of the European Economic Association, European Economic Association, vol. 9(3), pages 522-550, June.
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  12. Charles Noussair & Stephane Robin & Bernard Ruffieux, 2001. "Price Bubbles in Laboratory Asset Markets with Constant Fundamental Values," Experimental Economics, Springer;Economic Science Association, vol. 4(1), pages 87-105, June.
  13. Roll, Richard, 1977. "A critique of the asset pricing theory's tests Part I: On past and potential testability of the theory," Journal of Financial Economics, Elsevier, vol. 4(2), pages 129-176, March.
  14. Cheung, Stephen L. & Hedegaard, Morten & Palan, Stefan, 2014. "To see is to believe: Common expectations in experimental asset markets," European Economic Review, Elsevier, vol. 66(C), pages 84-96.
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  16. Breaban, A.G. & Noussair, C.N., 2014. "Fundamental Value Trajectories and Trader Characteristics in an Asset Market Experiment," Discussion Paper 2014-010, Tilburg University, Center for Economic Research.
  17. Porter, David P & Smith, Vernon L, 1995. "Futures Contracting and Dividend Uncertainty in Experimental Asset Markets," The Journal of Business, University of Chicago Press, vol. 68(4), pages 509-541, October.
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  27. Urs Fischbacher, 2007. "z-Tree: Zurich toolbox for ready-made economic experiments," Experimental Economics, Springer;Economic Science Association, vol. 10(2), pages 171-178, June.
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