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Anatomy of an Experimental Political Stock Market

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Cited by:

  1. Berg, Joyce E. & Rietz, Thomas A., 2019. "Longshots, overconfidence and efficiency on the Iowa Electronic Market," International Journal of Forecasting, Elsevier, vol. 35(1), pages 271-287.
  2. van Raalte, C.L.J.P., 1996. "Market formation and market selection," Other publications TiSEM 5b11cea5-dfe7-4a8c-adb9-f, Tilburg University, School of Economics and Management.
  3. Antoni Bosch-Domènech & José G. Montalvo & Rosemarie Nagel & Albert Satorra, 2002. "One, Two, (Three), Infinity, ...: Newspaper and Lab Beauty-Contest Experiments," American Economic Review, American Economic Association, vol. 92(5), pages 1687-1701, December.
  4. Eline Heijden & Jan Nelissen & Jan Potters, 2007. "Opinions on the Tax Deductibility of Mortgages and the Consensus Effect," De Economist, Springer, vol. 155(2), pages 141-159, June.
  5. Mathias Drehmann & Jörg Oechssler & Andreas Roider, 2005. "Herding and Contrarian Behavior in Financial Markets: An Internet Experiment," American Economic Review, American Economic Association, vol. 95(5), pages 1403-1426, December.
  6. Klaus Beckmann & Martin Werding, 1994. "Behaviour of a Small Political Call Market," Experimental 9410001, University Library of Munich, Germany.
  7. Dilger, Alexander, 2016. "Bedingte Aktiengeschäfte," Discussion Papers of the Institute for Organisational Economics 08/2016, University of Münster, Institute for Organisational Economics.
  8. Tai, Chung-Ching & Lin, Hung-Wen & Chie, Bin-Tzong & Tung, Chen-Yuan, 2019. "Predicting the failures of prediction markets: A procedure of decision making using classification models," International Journal of Forecasting, Elsevier, vol. 35(1), pages 297-312.
  9. Duersch, Peter & Oechssler, Jörg & Schipper, Burkhard C., 2009. "Incentives for subjects in internet experiments," Economics Letters, Elsevier, vol. 105(1), pages 120-122, October.
  10. Choi, Darwin & Hui, Sam K., 2014. "The role of surprise: Understanding overreaction and underreaction to unanticipated events using in-play soccer betting market," Journal of Economic Behavior & Organization, Elsevier, vol. 107(PB), pages 614-629.
  11. Glenn W. Harrison & John A. List, 2004. "Field Experiments," Journal of Economic Literature, American Economic Association, vol. 42(4), pages 1009-1055, December.
  12. Deaves, Richard & Lüders, Erik & Schröder, Michael, 2010. "The dynamics of overconfidence: Evidence from stock market forecasters," Journal of Economic Behavior & Organization, Elsevier, vol. 75(3), pages 402-412, September.
  13. Lewis-Beck, Michael S. & Tien, Charles, 2008. "Forecasting presidential elections: When to change the model," International Journal of Forecasting, Elsevier, vol. 24(2), pages 227-236.
  14. Nicholas Seybert & Robert Bloomfield, 2009. "Contagion of Wishful Thinking in Markets," Management Science, INFORMS, vol. 55(5), pages 738-751, May.
  15. Carsten Schmidt & Axel Werwatz, 2002. "How accurate do markets predict the outcome of an event? The Euro 2000 soccer championships experiment," Papers on Strategic Interaction 2002-09, Max Planck Institute of Economics, Strategic Interaction Group.
  16. Elberse, Anita & Anand, Bharat, 2007. "The effectiveness of pre-release advertising for motion pictures: An empirical investigation using a simulated market," Information Economics and Policy, Elsevier, vol. 19(3-4), pages 319-343, October.
  17. Forsythe, Robert & Rietz, Thomas A. & Ross, Thomas W., 1999. "Wishes, expectations and actions: a survey on price formation in election stock markets," Journal of Economic Behavior & Organization, Elsevier, vol. 39(1), pages 83-110, May.
  18. Steven Gjerstad, 2004. "Risk Aversion, Beliefs, and Prediction Market Equilibrium," Microeconomics 0411002, University Library of Munich, Germany.
  19. Kenneth Oliven & Thomas A. Rietz, 2004. "Suckers Are Born but Markets Are Made: Individual Rationality, Arbitrage, and Market Efficiency on an Electronic Futures Market," Management Science, INFORMS, vol. 50(3), pages 336-351, March.
  20. Lora R. Todorova & Bodo Vogt, 2012. "Herding in a Laboratory Asset Market with a Rich Action Set," FEMM Working Papers 120022, Otto-von-Guericke University Magdeburg, Faculty of Economics and Management.
  21. Andrea Mattozzi, 2010. "Policy Uncertainty, Electoral Securities, And Redistribution," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 51(1), pages 45-71, February.
  22. Agustin Casas & Yarine Fawaz & Andre Trindade, 2016. "Surprise Me If You Can: The Influence Of Newspaper Endorsements In U.S. Presidential Elections," Economic Inquiry, Western Economic Association International, vol. 54(3), pages 1484-1498, July.
  23. Pouget, Sébastien & Villeneuve, Stéphane, 2012. "A Mind is a Terrible Thing to Change: Confirmation Bias in Financial Markets," IDEI Working Papers 720, Institut d'Économie Industrielle (IDEI), Toulouse, revised Aug 2016.
  24. Jacobsen, Ben & Potters, Jan & Schram, Arthur & van Winden, Frans & Wit, Jorgen, 2000. "(In)accuracy of a European political stock market: The influence of common value structures," European Economic Review, Elsevier, vol. 44(2), pages 205-230, February.
  25. Calvin Blackwell & Robert Pickford, 2011. "The wisdom of the few or the wisdom of the many? An indirect test of the marginal trader hypothesis," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 35(2), pages 164-180, April.
  26. Marco Ottaviani & Peter Norman Sørensen, 2015. "Price Reaction to Information with Heterogeneous Beliefs and Wealth Effects: Underreaction, Momentum, and Reversal," American Economic Review, American Economic Association, vol. 105(1), pages 1-34, January.
  27. He, Xue-Zhong & Treich, Nicolas, 2012. "Heterogeneous Beliefs and Prediction Market Accuracy," TSE Working Papers 13-394, Toulouse School of Economics (TSE).
  28. Bialkowski, Jedrzej & Gottschalk, Katrin & Wisniewski, Tomasz Piotr, 2008. "Stock market volatility around national elections," Journal of Banking & Finance, Elsevier, vol. 32(9), pages 1941-1953, September.
  29. Ronald Peeters & Leonard Wolk, 2019. "Elicitation of expectations using Colonel Blotto," Experimental Economics, Springer;Economic Science Association, vol. 22(1), pages 268-288, March.
  30. Siemroth, Christoph, 2014. "Why prediction markets work : The role of information acquisition and endogenous weighting," Working Papers 14-02, University of Mannheim, Department of Economics.
  31. Jan Hansen & Carsten Schmidt & Martin Strobel, 2004. "Manipulation in political stock markets - preconditions and evidence," Applied Economics Letters, Taylor & Francis Journals, vol. 11(7), pages 459-463.
  32. Mayhew, Brian W. & Vitalis, Adam, 2014. "Myopic loss aversion and market experience," Journal of Economic Behavior & Organization, Elsevier, vol. 97(C), pages 113-125.
  33. Lewis-Beck, Michael S. & Tien, Charles, 1999. "Voters as forecasters: a micromodel of election prediction," International Journal of Forecasting, Elsevier, vol. 15(2), pages 175-184, April.
  34. Blume, Lawrence & Easley, David & Kleinberg, Jon & Kleinberg, Robert & Tardos, Éva, 2015. "Introduction to computer science and economic theory," Journal of Economic Theory, Elsevier, vol. 156(C), pages 1-13.
  35. Manahov, Viktor & Hudson, Robert, 2013. "Herd behaviour experimental testing in laboratory artificial stock market settings. Behavioural foundations of stylised facts of financial returns," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 392(19), pages 4351-4372.
  36. Michael Berlemann, 2004. "Experimentelle Aktienmärkte als Instrumente der Konjunkturprognose," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 57(16), pages 21-29, August.
  37. van der Heijden, E.C.M. & Nelissen, J.H.M. & Potters, J.J.M., 2004. "Opinions on Tax Deductions and the Consensus Effect in a Survey-Experiment," Other publications TiSEM bfdc07b3-23bf-4cda-a92a-5, Tilburg University, School of Economics and Management.
  38. Drehmann, Mathias & Oechssler, Jorg & Roider, Andreas, 2007. "Herding with and without payoff externalities -- an internet experiment," International Journal of Industrial Organization, Elsevier, vol. 25(2), pages 391-415, April.
  39. Michael Berlemann & Kalina Dimitrova & Nikolay Nenovsky, 2000. "Assessing Market Expectations on Exchange Rates and Inflation: A Pilot Forecasting System for Bulgaria," William Davidson Institute Working Papers Series wp759, William Davidson Institute at the University of Michigan.
  40. Shogren, Jason F., 2006. "Experimental Methods and Valuation," Handbook of Environmental Economics, in: K. G. Mäler & J. R. Vincent (ed.),Handbook of Environmental Economics, edition 1, volume 2, chapter 19, pages 969-1027, Elsevier.
  41. Joyce E. Berg & Thomas A. Rietz, 2003. "Prediction Markets as Decision Support Systems," Information Systems Frontiers, Springer, vol. 5(1), pages 79-93, January.
  42. Lawrence Choo & Todd R. Kaplan & Ro’i Zultan, 2019. "Information aggregation in Arrow–Debreu markets: an experiment," Experimental Economics, Springer;Economic Science Association, vol. 22(3), pages 625-652, September.
  43. Richard Potthoff, 2013. "Simple manipulation-resistant voting systems designed to elect Condorcet candidates and suitable for large-scale public elections," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 40(1), pages 101-122, January.
  44. Catherine Eckel & Rick Wilson, 2006. "Internet cautions: Experimental games with internet partners," Experimental Economics, Springer;Economic Science Association, vol. 9(1), pages 53-66, April.
  45. Tobias Kranz & Florian Teschner & Christof Weinhardt, 2015. "Beware of Performance Indicators," Business & Information Systems Engineering: The International Journal of WIRTSCHAFTSINFORMATIK, Springer;Gesellschaft für Informatik e.V. (GI), vol. 57(6), pages 349-361, December.
  46. Martin Spann & Bernd Skiera, 2009. "Sports forecasting: a comparison of the forecast accuracy of prediction markets, betting odds and tipsters," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 28(1), pages 55-72.
  47. Steffen Andersen & John Fountain & Glenn Harrison & E. Rutström, 2014. "Estimating subjective probabilities," Journal of Risk and Uncertainty, Springer, vol. 48(3), pages 207-229, June.
  48. Vernon L. Smith, 2003. "Constructivist and Ecological Rationality in Economics," American Economic Review, American Economic Association, vol. 93(3), pages 465-508, June.
  49. Manahov, Viktor & Hudson, Robert & Hoque, Hafiz, 2015. "Return predictability and the ‘wisdom of crowds’: Genetic Programming trading algorithms, the Marginal Trader Hypothesis and the Hayek Hypothesis," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 37(C), pages 85-98.
  50. RYan Oprea & David Porter & Chris Hibbert & Robin Hanson & Dorina Tila, 2008. "Can Manipulators Mislead Prediction Market Observers?," Working Papers 08-01, Chapman University, Economic Science Institute.
  51. David Peón & Manel Antelo & Anxo Calvo, 2016. "Overconfidence and risk seeking in credit markets: an experimental game," Review of Managerial Science, Springer, vol. 10(3), pages 511-552, July.
  52. Knight*, Brian, 2007. "Are policy platforms capitalized into equity prices? Evidence from the Bush/Gore 2000 Presidential Election," Journal of Public Economics, Elsevier, vol. 91(1-2), pages 389-409, February.
  53. David Hirshleifer, 2001. "Investor Psychology and Asset Pricing," Journal of Finance, American Finance Association, vol. 56(4), pages 1533-1597, August.
  54. Engelmann, Dirk & Strobel, Martin, 2012. "Deconstruction and reconstruction of an anomaly," Games and Economic Behavior, Elsevier, vol. 76(2), pages 678-689.
  55. Ates, Aaron M. & Lusk, Jayson L. & Brorsen, B. Wade, 2019. "Forecasting Meat Prices Using Consumer Expectations from the Food Demand Survey (FooDS)," Journal of Food Distribution Research, Food Distribution Research Society, vol. 50(1), March.
  56. David V. Budescu & Boris Maciejovsky, 2005. "The Effect of Payoff Feedback and Information Pooling on Reasoning Errors: Evidence from Experimental Markets," Management Science, INFORMS, vol. 51(12), pages 1829-1843, December.
  57. Victor Tiberius & Christoph Rasche, 2011. "Prognosemärkte," Metrika: International Journal for Theoretical and Applied Statistics, Springer, vol. 21(4), pages 467-472, April.
  58. Wang, Qin & Zhang, Jun, 2015. "Does individual investor trading impact firm valuation?," Journal of Corporate Finance, Elsevier, vol. 35(C), pages 120-135.
  59. Cipriano Santos & Tere Gonzalez & Haitao Li & Kay-Yut Chen & Dirk Beyer & Sundaresh Biligi & Qi Feng & Ravindra Kumar & Shelen Jain & Ranga Ramanujam & Alex Zhang, 2013. "HP Enterprise Services Uses Optimization for Resource Planning," Interfaces, INFORMS, vol. 43(2), pages 152-169, April.
  60. Imlak Shaikh, 2019. "The U.S. Presidential Election 2012/2016 and Investors’ Sentiment: The Case of CBOE Market Volatility Index," SAGE Open, , vol. 9(3), pages 21582440198, July.
  61. Abraham Othman & Tuomas Sandholm, 2013. "The Gates Hillman prediction market," Review of Economic Design, Springer;Society for Economic Design, vol. 17(2), pages 95-128, June.
  62. Manski, Charles F., 2006. "Interpreting the predictions of prediction markets," Economics Letters, Elsevier, vol. 91(3), pages 425-429, June.
  63. Joyce E. Berg & George R. Neumann & Thomas A. Rietz, 2009. "Searching for Google's Value: Using Prediction Markets to Forecast Market Capitalization Prior to an Initial Public Offering," Management Science, INFORMS, vol. 55(3), pages 348-361, March.
  64. Serrano-Padial, Ricardo, 2012. "Naive traders and mispricing in prediction markets," Journal of Economic Theory, Elsevier, vol. 147(5), pages 1882-1912.
  65. David V. Budescu & Boris Maciejovsky, 2004. "The Effect of Monetary Feedback and Information Spillovers on Cognitive Errors: Evidence from Competitive Markets," Papers on Strategic Interaction 2004-32, Max Planck Institute of Economics, Strategic Interaction Group.
  66. Carsten Schmidt & Jens Grossklags, 2004. "Interaction of Human and Artificial Agents on Double Auction Markets - Simulations and Laboratory Experiments," Papers on Strategic Interaction 2003-22, Max Planck Institute of Economics, Strategic Interaction Group.
  67. Adam Zaremba & Jacob Koby Shemer, 2018. "Price-Based Investment Strategies," Springer Books, Springer, number 978-3-319-91530-2, September.
  68. Bondarenko, Oleg & Bossaerts, Peter, 2000. "Expectations and learning in Iowa," Journal of Banking & Finance, Elsevier, vol. 24(9), pages 1535-1555, September.
  69. David M Pennock & Sandip Debnath & Eric Glover & C. Lee Giles, 2012. "Modelling Information Incorporation in Markets, with Application to Detecting and Explaining Events," Papers 1301.0594, arXiv.org.
  70. Graefe, Andreas & Armstrong, J. Scott & Jones, Randall J. & Cuzan, Alfred G., 2017. "Assessing the 2016 U.S. Presidential Election Popular Vote Forecasts," MPRA Paper 83282, University Library of Munich, Germany.
  71. Frey, Bruno S. & Kucher, Marcel, 2000. "History as Reflected in Capital Markets: The Case of World War II," The Journal of Economic History, Cambridge University Press, vol. 60(2), pages 468-496, June.
  72. Ackert, Lucy F. & Church, Bryan K. & Zhang, Ping, 2004. "Asset prices and informed traders' abilities: Evidence from experimental asset markets," Accounting, Organizations and Society, Elsevier, vol. 29(7), pages 609-626, October.
  73. Berlemann, Michael, 2001. "Forecasting inflation via electronic markets: Results from a prototype market," Dresden Discussion Paper Series in Economics 06/01, Technische Universität Dresden, Faculty of Business and Economics, Department of Economics.
  74. Dorina Tila & David Porter, 2008. "Group Prediction in Information Markets With and Without Trading Information and Price Manipulation Incentives," Working Papers 08-06, Chapman University, Economic Science Institute.
  75. Chang, Yen-Cheng & Cheng, Hung-Wen, 2015. "Information environment and investor behavior," Journal of Banking & Finance, Elsevier, vol. 59(C), pages 250-264.
  76. R. Karina Gallardo & B. Wade Brorsen & Jayson Lusk, 2010. "Prediction markets: an experimental approach to forecasting cattle on feed," Agricultural Finance Review, Emerald Group Publishing, vol. 70(3), pages 414-426, November.
  77. Joyce E. Berg & John Geweke & Thomas A. Rietz, 2010. "Memoirs of an indifferent trader: Estimating forecast distributions from prediction markets," Quantitative Economics, Econometric Society, vol. 1(1), pages 163-186, July.
  78. Jason Dana & Pavel Atanasov & Philip Tetlock & Barbara Mellers, 2019. "Are markets more accurate than polls? The surprising informational value of “just askingâ€," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 14(2), pages 135-147, March.
  79. Detlef Schoder & Johannes Putzke & Panagiotis Metaxas & Peter Gloor & Kai Fischbach, 2014. "Information Systems for “Wicked Problems”," Business & Information Systems Engineering: The International Journal of WIRTSCHAFTSINFORMATIK, Springer;Gesellschaft für Informatik e.V. (GI), vol. 6(1), pages 3-10, February.
  80. Lambert, Nicolas S. & Langford, John & Wortman Vaughan, Jennifer & Chen, Yiling & Reeves, Daniel M. & Shoham, Yoav & Pennock, David M., 2015. "An axiomatic characterization of wagering mechanisms," Journal of Economic Theory, Elsevier, vol. 156(C), pages 389-416.
  81. Forsell, Eskil & Viganola, Domenico & Pfeiffer, Thomas & Almenberg, Johan & Wilson, Brad & Chen, Yiling & Nosek, Brian A. & Johannesson, Magnus & Dreber, Anna, 2019. "Predicting replication outcomes in the Many Labs 2 study," Journal of Economic Psychology, Elsevier, vol. 75(PA).
  82. Franck, Egon & Verbeek, Erwin & Nüesch, Stephan, 2010. "Prediction accuracy of different market structures -- bookmakers versus a betting exchange," International Journal of Forecasting, Elsevier, vol. 26(3), pages 448-459, July.
  83. Lian Jian & Rahul Sami, 2012. "Aggregation and Manipulation in Prediction Markets: Effects of Trading Mechanism and Information Distribution," Management Science, INFORMS, vol. 58(1), pages 123-140, January.
  84. Martin Spann & Bernd Skiera, 2003. "Internet-Based Virtual Stock Markets for Business Forecasting," Management Science, INFORMS, vol. 49(10), pages 1310-1326, October.
  85. Andreas Heusler & Dominik Molitor & Martin Spann, 2019. "How Knowledge Stock Exchanges can increase student success in Massive Open Online Courses," PLOS ONE, Public Library of Science, vol. 14(9), pages 1-17, September.
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  96. Hanson, Robin & Oprea, Ryan & Porter, David, 2006. "Information aggregation and manipulation in an experimental market," Journal of Economic Behavior & Organization, Elsevier, vol. 60(4), pages 449-459, August.
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