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
Academic Program Overview
December 15
8:30 - 8:45 | Welcome and Opening Remarks |
8:45 - 9:35 | Plenary I |
9:35 - 10:00 | Coffee Break and Group Photo |
10:00 - 12:00 | Invited Sessions I.A and I.B |
12:00 - 1:30 | Lunch |
1:30 - 3:00 | Invited Sessions II.A and II.B |
3:00 - 3:20 | Coffee Break |
3:20 - 5:00 | Plenary II and III |
5:15 - 6:45 | Invited Sessions III.A and III.B |
December 16
9:00 - 10:40 | Plenary IV and V |
10:40 - 11:00 | Coffee Break |
11:00 - 12:00 | Invited Sessions IV.A and IV.B |
12:00–1:45 | Lunch |
| Invited Sessions V.A and V.B |
3:15 - 3:35 | Coffee Break |
3:35–4:25 | Plenary VI |
4:40–6:10 | Invited Sessions VI.A and VI.B |
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)
