Outputs (2)

Asset price volatility and investment horizons: An experimental investigation (2021)
Journal Article
Anufriev, M., Chernulich, A., & Tuinstra, J. (2022). Asset price volatility and investment horizons: An experimental investigation. Journal of Economic Behavior and Organization, 193, 19-48. https://doi.org/10.1016/j.jebo.2021.11.019

We study the effects of the investment horizon on asset price volatility using a Learning to Forecast laboratory experiment. We find that, for short investment horizons, participants coordinate on self-fulfilling trend-extrapolating predictions. Pric... Read More about Asset price volatility and investment horizons: An experimental investigation.

Modelling reference dependence for repeated choices: A horse race between models of normalisation (2021)
Journal Article
Chernulich, A. (2021). Modelling reference dependence for repeated choices: A horse race between models of normalisation. Journal of Economic Psychology, 87, Article 102429. https://doi.org/10.1016/j.joep.2021.102429

In the logit model, a choice between options is driven by payoff differences. Existing evidence on repeated choices suggests that the way payoff differences are evaluated depends on historically observed differences. We capture such reference depende... Read More about Modelling reference dependence for repeated choices: A horse race between models of normalisation.