2010 实验经济学与金融学国际研讨会议程

2010 International Workshop on Experimental Economics and Finance Program

December 15-16 (Weds.-Thurs.), 2010

Wang Yanan Institute for Studies in Economics (WISE)

Xiamen University - Xiamen, China

Final Program.pdf

Final Detailed Program.pdf

Academic Program Overview

December 15

December 16

Academic Program Detailed

December 15

8:30 – 8:45 Welcome and Opening Remarks

8:45 – 9:35 Plenary I

Venue: Economics D-110

Shyam Sunder (Yale School of Management)

Title: Default penalty as a disciplinary and selection mechanism in presence of multiple equilibria

Chair: Jason Shachat (WISE, Xiamen University)

9:35 – 10:00 Coffee Break and Group Photo

10:00 – 12:00 Invited Sessions I.A and I.B

Session I.A Coordination

Venue: Economics D-110

Chair: Joseph Tao-yi Wang* (National Taiwan University)

1) Group Merger as a Way to Achieve Efficient Coordination in Weak-link Games

Irina Kirysheva (European University Institute)

2) Authority and Communication in the Laboratory*

Ernest K. Lai (Lehigh University) and Wooyoung Lim* (HKUST)

3) Using Brain Drain Migration to Induce Education Investment: An Laboratory Experimental Investigation

Yi-Ping Bai, Tzu-Hao Wang and Joseph Tao-yi Wang* (National Taiwan University)

Session I.B Field and Real Effort Experiments

Venue: Economics D-310

Chair: Zemin Zhong (PKU-HSBC)

1) Surprise and Reciprocity: A Real Effort Experiment

Zhiquan Weng (SWUFE)

2) Framing Manipulations in Contests: A Natural Field Experiment

Fuhai Hong* (HKUST), Tanjim Hossain (University of Toronto), John A. List (University of Chicago)

3) Clinical Information, Moral Hazard, and Patient Involvement: Field Evidence in China

Siyu YU (Guanghua School of Management, Peking University)

4) Lemony prices: an online field experiment on price dispersion

Zemin (Zachary) Zhong* and David Ong (PKU-HSBC)

12:00 – 1:30 Lunch

1:30 -3:00 Invited Sessions II.A and II.B

Session II.A New Methodologies

Venue: Economics D-110

Chair: David Ong (PKU-HSBC)

1) Data Precision and the Reliability of Statistic Inference: A Case Study

Qiqi Cheng*, Bin Xu, Zhijian Wang (Zhejiang University)

2) The Effects of Stake Size and Gender on Risk Preference under Hypothetical Conditions

Yue Gao (Dongbei University of Finance and Economics)

3) A Mechanism to Detect and Decrease Insider Trading

David Ong (PKU-HSBC)

Session II.B Asset Markets

Venue: Economics D-310

Chair: Stephen L. Cheung* (University of Sydney)

1) Informational price cascades and the non-aggregation of asymmetric information in an experimental asset market.

Jason Shachat* (WISE, Xiamen University) and Anand Srivinasan (NUS)

2) The Effect of Circuit Breakers on in Experimental Asset Markets

Xiaolan Yang* and Tao Hong (Zhejiang University)

3) League-Table Incentives and Price Bubbles in Experimental Asset Markets *

Stephen L. Cheung* (University of Sydney), and Andrew Coleman (Credit Suisse)

3:00 -3:20 Coffee Break

3:20 - 5:00 Plenary II and III

Venue: Economics D-110

Plenary II: Peter Bossaerts

Market Bubbles and Crashes as an Expression of Tension between Social and Individual Rationality: An Experiment

Chair: Shyam Sunder (Yale School of Management)

Plenary III: John Duffy (University of Pittsburgh)

A Dynamic General Equilibrium Approach to Asset Pricing Experiments

Chair: Shyam Sunder (Yale School of Management)

5:15 – 6:45 Invited Sessions III.A and III.B

Invited Session III.A Sequential Choice Experiments

Venue: Economics D-110

Chair: Masaru Sasaki (Osaka University)

1) Herding with the Stars

Fangfang Tang, Kai Yan and David Ong* (PKU-HSBC)

2) An Experimental Test of a Collective Search Model*

Yoichi Hizen (Hokkaido University), Keisuke Kawata*, Masaru Sasaki (Osaka University)

3) An Experimental Test of a Search Model under Knightian Uncertainty*

Takao Asano, Hiroko Okudaira (Okayama University), Masaru Sasaki* (Osaka University)

Invited Session III.B Individual Portfolio and Investment Decisions

Venue: Economics D-310

Chair: Cheng-Chung Wu*( National Kaohsiung First University of Science and Technology)

1) The Effects of Overconfidence on the Index of Discrimination Ability and the Judgment Criterion in Investment Decision: An Experiment Based on Signal Detection Theory

WU Ru-xin*, Huang Jian-bai (School of Business, Central South University)

2) The Stock Investment Decisions and Financial Behaviors: The Perspective of Psychological Biases

Cheng-Chung Wu*( National Kaohsiung First University of Science and Technology), Chung-Wen Yang, Chiu-Hua Tang, andYing-Shih Mai (Cheng Shiu University)

December 16

9:00 – 10:40 Plenary IV and V

Venue: Economics D-110

Plenary IV: Ananish Chaudhuri (University of Auckland)

Sustaining cooperation in laboratory public goods experiments: a selective survey of the literature

Chair: Joerg Oechssler (University of Heidelberg)

Plenary V: Eyal Winter (The Hebrew University of Jerusalem)

Mental Equilibrium and Rational Emotions

Joerg Oechssler (University of Heidelberg)

10:40 - 11:00 Coffee Break

11:00 – 12:00 Invited Sessions IV.A and IV.B

Invited Session IV.A Public Goods

Venue: Economics D-110

Chair: Liangcong Fan (Zhejiang University)

1) Cross-Effects of Leadership, Punishment and Exogenous Regulation in the public good provision: An Experimental Study

Bo Li (Nankai University)

2) Group Size and the Effectiveness of the Punishment Mechanism in the VCM: An Experimental Investigation

Bin Xu (Zhejiang Gongshang University), Bram Cadsby (University of Guelph), Liangcong Fan* (Zhejiang University) Fei Song (Ryerson University)

Invited Session IV.B Dynamic Markets

Venue: Economics D-310

Chair: Damjan Pfajfar (Tilburg University)

1) Individual Expectations, Limited Rationality and Aggregate Outcomes*

Te Bao*, Cars Hommes, Joep Sonnemans, and Jan Tuinstra (University of Amsterdam)

2) Frictions, persistence, and central bank policy in an experimental dynamic stochastic general equilibrium economy

Charles N. Noussair, Damjan Pfajfar*, and Janos Zsiros (Tilburg University)

12:00 – 1:45 Lunch

1:45 -3:15 Invited Sessions V.A and V.B

Invited Sessions V.A Individual Preferences Under Risk

Venue: Economics D-110

Chair: Zhong Songfa (NUS)

1) Willingness to Pay, Willingness to Accept and “Smooth vs. Kinked” Utility of Wealth Functions: An Empirical Test of a Theoretical Debate

Susan Chilton, Michael Jones-Lee, Rebecca McDonald, Hugh Metcalf* (Newcastle University Business School)

2) Reining in Excessive Risk Taking by Executives: Experimental Evidence

Mathieu Lefebvre, and Ferdinand M. Vieider* (Ludwig-Maximilians-University)

3) Modeling Decision Making under Risk using Neurochemistry

Chew Soo Hong, Richard P Ebstein, and Zhong Songfa* (NUS)

Invited Sessions V.B Auctions and Affiliated Values

Venue: Economics D-310

Chair: Youxin Hu (SWUFE)

1) The effect of bidding information in ascending auctions

Authors: Mun Chui* (SJTU), David Porter, Stephen Rassenti, Vernon Smith

2) Similarity Effects in Takeover Contests

Yun Dai* (Erasmus University Rotterdam), Sebastian Gryglewicz Han, and T.J. Smit

3) Theoretical and Experimental Analysis of Auctions with Negative Externalities

Youxin Hu* (SWUFE), John Kagel, and Lixin Ye

3:15 - 3:35 Coffee Break

3:35 – 4:25 Plenary VI

Plenary V1: Joerg Oechssler (University of Heidelberg)

Imitation: Theory and Experiments

Chair: Ananish Chaudhuri (University of Auckland)

4:40 – 6:10 Invited Sessions VI.A and VI.B

Invited Session VI.A Trust

Venue: Economics D-110

Chair: Jan Potters* (Tilburg University)

1) Will Formal Risk Sharing Arrangements Crowd Out Informal Mechanisms: An Experimental Study

Yiming Liu*, Yu Duan, and Zhao Li (Peking University )

2) Promises as Commitments

Huseyn Ismayilov and Jan Potters* (Tilburg University)

Invited Session VI.A Games

Venue: Economics D-310

Chair: Bin Xu (Zhejiang University)

1) How do subjects play against a Nash opponent in games which have a mixed strategy equilibrium?

Jason Shachat (WISE, Xiamen University), J. Todd Swarthout (Georgia State University) and Lijia Wei* (WISE, Xiamen University)

2) Choice Bracketing and Social Preference: Experimental Evidence from Trust Game and Simultaneous Prisoner’s Dilemma Game

LI King, and DING Jieyao* (Max Planck Institute for Research on Collective Goods)

3) Bertrand-Edgeworth-Shapley Cycle in a 2 × 2 Game

Bin Xu and Zhijian Wang* (Experimental Social Science Laboratory, Zhejiang University)