Expectation formation in finance and macroeconomics: A review of new experimental evidence
This paper reviews the recent development and new findings of the literature on learning-to-
forecast experiments (LtFEs). In general, the stylized finding in the typical LtFEs, namely the …
forecast experiments (LtFEs). In general, the stylized finding in the typical LtFEs, namely the …
Levels of reasoning in Keynesian Beauty Contests: a generative framework
We introduce a generalization of the Beauty Contest (BC) game as a framework that
incorporates different models from micro-and macroeconomics by formulating their reduced …
incorporates different models from micro-and macroeconomics by formulating their reduced …
Bubbles, crashes and information contagion in large-group asset market experiments
We study the emergence of bubbles in a laboratory experiment with large groups of
individuals. The realized price is the aggregation of the forecasts of a group of individuals …
individuals. The realized price is the aggregation of the forecasts of a group of individuals …
Experience does not eliminate bubbles: Experimental evidence
We study the role of investor experience in the formation of asset price bubbles. We conduct
a call market experiment in which participants trade assets with each other and a learning-to …
a call market experiment in which participants trade assets with each other and a learning-to …
Limited rationality and the strategic environment: Further theory and experimental evidence
The psychology and behavioral economics literatures show that real world decision making
at the individual level is frequently inconsistent with the rational actor model. An important …
at the individual level is frequently inconsistent with the rational actor model. An important …
[HTML][HTML] Cognitive reflection in experimental anchored guessing games
The cognitive reflection test or CRT (Frederick, 2005) has been found to be a reliable
predictor of the degree of strategic sophistication of subjects in a variety of laboratory …
predictor of the degree of strategic sophistication of subjects in a variety of laboratory …
Strategizing with AI: Insights from a Beauty Contest Experiment
A Keynesian beauty contest is a wide class of games of guessing the most popular strategy
among other players. In particular, guessing a fraction of a mean of numbers chosen by all …
among other players. In particular, guessing a fraction of a mean of numbers chosen by all …
Responses in cognitive hierarchy games are correlated with academic performance and the cognitive reflection test
Economics and Finance undergraduate students from four cohorts played LUPI, a game
rewarding the person submitting the lowest unique positive integer, for a small bonus in an …
rewarding the person submitting the lowest unique positive integer, for a small bonus in an …
Central bank transparency with (semi-) public information: Laboratory experiments
Strategies of public announcements pose challenges to central banks. Theory shows that
full transparency is not always good. In this paper, we propose to assess two forms of partial …
full transparency is not always good. In this paper, we propose to assess two forms of partial …
[PDF][PDF] Essays in Experimental Macroeconomics
M Bulutay - 2024 - depositonce.tu-berlin.de
This dissertation consists of four essays that use controlled experiments to address
macroeconomic issues. Chapter 1 (coauthored with Camille Cornand and Adam …
macroeconomic issues. Chapter 1 (coauthored with Camille Cornand and Adam …