Experiential Learning of the Efficient Market Hypothesis: Two Trading Games

REFERENCES

• Ball , S. B. and Holt , C. A. 1998 . Classroom games: Speculation and bubbles in asset markets . Journal of Economic Perspectives , 12 ( 1 ) : 207 – 18 .
   Google Scholar
• Bazerman , M. H. and Samuelson , W. F. 1983 . I won the auction but don't want the prize . Journal of Conflict Resolution , 27 ( 4 ) : 618 – 34 .
   Web of Science ®Google Scholar
• Brunnermeier , M. and Nagel , S. 2004 . Hedge funds and the technology bubble . Journal of Finance , 59 ( 5 ) : 2013 – 40 .
   Web of Science ®Google Scholar
• Campbell , J. Y. , Lo , A. W. and MacKinlay , A. C. 1997 . The econometrics of financial markets , Princeton , NJ : Princeton University Press .
   Google Scholar
• Fama , E. 1965 . The behavior of stock market prices . Journal of Business , 38 : 34 – 105 .
   Web of Science ®Google Scholar
• Feinstein , S. P. 2000 . Teaching the strong-form efficient market hypothesis and making the case for insider trading: A classroom experiment . Journal of Financial Education , 26 ( 2 ) : 40 – 44 .
   Google Scholar
• Forsythe , R. and Lundholm , R. 1990 . Information aggregation in an experimental market . Econometrica , 58 ( 2 ) : 309 – 47 .
   Web of Science ®Google Scholar
• Grossman , S. 1976 . On the efficiency of competitive stock markets where trades have diverse information . Journal of Finance , 31 ( 2 ) : 573 – 85 .
   Web of Science ®Google Scholar
• Grossman , S. 1977 . The existence of futures markets, noisy rational expectations and informational externalities . Review of Economic Studies , 44 ( 3 ) : 431 – 49 .
   Web of Science ®Google Scholar
• Grossman , S. J. and Stiglitz , J. E. 1976 . Information and competitive price systems . American Economic Review , 66 ( 2 ) : 246 – 53 .
   Web of Science ®Google Scholar
• Grossman , S. J. and Stiglitz , J. E. 1980 . On the impossibility of informationally efficient markets . American Economic Review , 70 ( 3 ) : 393 – 408 .
   Web of Science ®Google Scholar
• Haruvy , E. and Noussair , C. N. 2006 . The effect of short selling on bubbles and crashes in experimental spot asset markets . Journal of Finance , 61 ( 3 ) : 1119 – 1158 .
   Web of Science ®Google Scholar
• Hong , H. , Scheinkman , J. and Xiong , W. 2006 . Asset float and speculative bubbles . Journal of Finance , 61 ( 3 ) : 1073 – 1117 .
   Web of Science ®Google Scholar
• Lei , V. , Noussair , C. N. and Plott , C. R. 2001 . Nonspeculative bubbles in experimental asset markets: Lack of common knowledge of rationality vs. actual irrationality . Econometrica , 69 ( 4 ) : 831 – 59 .
   Web of Science ®Google Scholar
• Marks , M. , Lehr , D. and Brastow , R. 2006 . Cooperation versus free riding in a threshold public goods classroom experiment . Journal of Economic Education , 37 : 156 – 70 .
   Web of Science ®Google Scholar
• Plott , C. R. and Sunder , S. 1988 . Rational expectations and the aggregation of diverse information in laboratory security markets . Econometrica , 56 ( 5 ) : 1085 – 118 .
   Web of Science ®Google Scholar
• Smith , V. L. 1962 . An experimental study of competitive market behavior . Journal of Political Economy , 70 ( 2 ) : 111 – 37 .
   Web of Science ®Google Scholar
• Smith , V. L. , Suchanek , G. and Williams , A. W. 1988 . Bubbles, crashes and endogenous expectations in experimental spot asset markets . Econometrica , 56 : 1119 – 1151 .
   Web of Science ®Google Scholar
• Thaler , R. H. 1988 . Anomalies: The winner's curse . Journal of Economic Perspectives , 2 ( 1 ) : 191 – 202 .
   Web of Science ®Google Scholar