Handbook of Experimental Finance by Ernan Haruvy (English) Hardcover Book

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Offering an in-depth overview of the field's past, present, and future, this Handbook provides a comprehensive analysis of the current topics, methodologies, findings, and breakthroughs in research conducted with the help of experimental finance methodology. Suggesting innovative ways of navigating and structuring financial markets, it also showcases the diversity and promise of using experiments in finance.With contributions from leading experts, the Handbook begins with a series of investigations into human behavior in financial decision-making, asking methodological questions regarding subject pool choice, cognitive finance, physical and physiological measurement, and research directions. Stressing the dual nature of experimental finance, chapters then relate to market experiments by exploring applied topics, including bank runs, financial accounting and nudging. Finally, it examines experimental tools and methodologies, critical perspectives, roadmaps for implementation, and empirical testing of finance theories. With examples of experiments that test the fundamental theoretical constructs in finance, this Handbook will prove a vital resource to students and scholars of finance, financial economics, and experimental methodology. It will also prove useful to practitioners and policymakers looking to innovate and experiment with their approaches to financial decision-making.

FORMATHardcover LANGUAGEEnglish CONDITIONBrand New Author Biography

Edited by Sascha Fullbrunn, Associate Professor of Finance, Institute for Management Research and Department of Economics and Business Economics, Radboud University, Nijmegen, the Netherlands and Ernan Haruvy, Professor, Desautels Faculty of Management, McGill University, Montreal, Quebec, Canada

Table of Contents

Contents:Introduction to the Handbook of Experimental Finance 1Sascha Fullbrunn, Ernan HaruvyPART ONE BASIC RESEARCH1 Current and possible future research directions in experimental finance 12Charles Noussair2 Experiments in finance: From no to maybe to yes! 17Pascal Kieren, Martin Weber3 The complementarity of experimental and archival finance research 26Lucy F. Ackert, Hong Qu4 Physiological measures in experimental finance 41Eyal Ert, Abigail Hurwitz, Sven Nolte5 Ambiguity, experience and unforeseen events in experimental finance 54Stefan T. Trautmann6 Experimental finance and financial professionals 64Sascha Fullbrunn, Christoph Huber, Christian König-Kersting7 Cognitive finance 73Ciril Bosch-Rosa, Brice Corgnet8 The perils of a blanket model: Financial anomalies and loss aversion 89Eldad Yechiam9 Testosterone and financial risk taking 98John Dinsmore, Eric Stenstrom, Marcelo Vinhal Nepomuceno10 On attention to information: The checking paradox 105Yefim Roth, Ofir Yakobi11 The double-channeled effects of experienced payoffs in investment decisions 117Peiran Jiao12 Investing other people's money 132Sascha Fullbrunn, Ola Kvaløy, Wolfgang Luhan13 From the field to the lab: Professionals and bidding aggression 145Timo Heinrich, Matthew James Walker14 Coordination games: Escaping the straitjacket 152Christos A. IoannouPART TWO APPLIED RESEARCH15 Perishable goods versus re-tradable assets: A theoretical reappraisalof a fundamental dichotomy 162Sabiou M. Inoua, Vernon L. Smith16 Pairing multi-market theory with experiments 172Elena Asparouhova, Peter Bossaerts, Sean Crockett17 The effect of favorable and unfavorable information on asset prices 194Charles Noussair, Steven Tucker, Mark Ryan18 Market experiments with multiple assets: A survey 213John Duffy, Jean Paul Rabanal, Olga A. Rud19 Individual evolutionary learning and zero-intelligence inthe continuous double auction 225Jasmina Arifovic, Anil Donmez, John Ledyard, Megan Tjandrasuwita20 Using results from learning to forecast laboratory experimentsto predict the effect of futures markets on spot market stability 250Johan de Jong, Joep Sonnemans, Jan Tuinstra21 Are you experienced? How the time spacing of traders' marketexperience impacts bubble formation in experimental asset markets 267Jason Shachat, Hang Wang22 Monetary policy and cash flow irregularity as drivers of asset pricebubbles: An experimental study 281Dragana Draganac, Miloš Boovi23 Algorithmic trading in experimental markets with human traders:A literature survey 302Te Bao, Elizaveta Nekrasova, Tibor Neugebauer, Yohanes E. Riyanto24 Asset market experiments with diverse information 323Dominik Schmidt, Thomas Stöckl25 Experimental bank runs 347Hubert J. Kiss, Ismael Rodriguez-Lara, Alfonso Rosa-Garcia26 Experiential learning in finance education – Applying experimentalfinance methodology 362Éva Kaczkó, Michael Razen27 Experimental research in financial accounting 375Daniel Reimsbach, Karen De Meyst28 Corporate governance experiments 384Ernan Haruvy29 Nudging and RCTs in finance: A review of recent literature 395Réka Heim, Jurgen Huber30 A critical perspective on the conceptualization of risk in behavioraland experimental finance 408Felix Holzmeister, Christoph Huber, Stefan Palan31 Stated risk preference predicts risk appetite in structured investment 414Doron Sonsino, Yaron Lahav, Yefim RothIndex 423

Review

'The key aim of this Handbook is "to showcase the diversity of experimental finance topics and solidify the distinctiveness of experimental finance as a stand-alone 'field' from experimental economics" (p.1). This is intended to educate and to influence for all readers including uninitiated readers. At the end of studying this Handbook, all readers are convinced that this aim is accomplished. This is congratulatory for the eminent editors and all the contributors of 31 chapters, each focusing on a unique topic and contribution, in this excellent Handbook.' -- FPI Journal of Economics and Governance

Details ISBN1800372329 Language English Year 2022 ISBN-10 1800372329 ISBN-13 9781800372320 Format Hardcover Publisher Edward Elgar Publishing Ltd Series Research Handbooks in Money and Finance series Imprint Edward Elgar Publishing Ltd Place of Publication Cheltenham Country of Publication United Kingdom Pages 450 Author Sascha Fullbrunn Edited by Sascha Fullbrunn Publication Date 2022-10-18 AU Release Date 2022-10-18 NZ Release Date 2022-10-18 UK Release Date 2022-10-18 DEWEY 330.0724 Audience Professional & Vocational We've got this

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