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Title: Iterative reasoning and markets : three experiments
Author: Choo, Chang Yuan Lawrence
ISNI:       0000 0004 5354 2110
Awarding Body: University of Exeter
Current Institution: University of Exeter
Date of Award: 2014
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We present in this thesis three distinct experiments, studying issues in behavioural economics and finan- cial market. In the first paper, we study the level-k reasoning model in an experimental extension of Arad and Rubinsten (2012) “11-20 Money Request Game”. In the second paper, we introduce an experimental design where traders can buy or sell the rights for performing complex decisional task. The design seeks to test the allocative efficiency of markets. In the third paper, we introduce an Arrow-Debreu market where traders have diverse and partial information about the true state of nature. The design seeks to test the Rational Expectations model’s prediction that all relevant information will be aggregated into market prices.
Supervisor: Kaplan, Todd R.; Fonseca, Miguel A. Sponsor: Not available
Qualification Name: Thesis (Ph.D.) Qualification Level: Doctoral
EThOS ID:  DOI: Not available
Keywords: Game Theory ; Market Experiments ; Iterative Reasoning ; Information Aggregation ; 11-20 Money Request Game ; Red Hat Puzzle ; Bubbles