Welcome to the website of the Society for Experimental Finance.

The Society for Experimental Finance is an organization for scientists who use controlled experiments to understand human behavior on financial markets.


We are pleased to announce that Edward Halim, Yohanes Riyanto, and Nilanjan Roy won the 2020 Vernon L. Smith Excellence Award in Experimental Finance for their paper "Costly Information Acquisition, Social Networks, and Asset Prices: Experimental Evidence", published in the Journal of Finance (https://doi.org/10.1111/jofi.12768).

The award panel also wants to give special recognition to the paper "An Experimental Test of the Lucas Asset Pricing Model" by Sean Crockett, John Duffy, and Yehuda Izhakian, published in the Review of Economic Studies (https://doi.org/10.1093/restud/rdy035).

The award panel is impressed by the depth and scope of the studies and is convinced that both papers make a very important contribution to Finance research. The panel members are Elena Asparouhova (University of Utah), Michael Kirchler (University of Innsbruck), Dave Porter (Chapman University), and Utz Weitzel (VU Amsterdam and Radboud University).

The award and special recognition will be handed over officially during the conference dinner at the next Experimental Finance World Conference in Innsbruck in June 16-18, 2021.

Congratulations to all authors for their contribution.

Upcoming Events

EF2020 Conference
June 10-12, 2020, in Innsbruck
Keynotes: Annamaria Lusardi (George Washington University School of Business) and Stefan Nagel (University of Chicago Booth School of Business)

EF Summer School 2020
June 8-9, 2020, in Innsbruck
Lecturers: Mark DeSantis (Chapman University), Felix Holzmeister (University of Innsbruck), Stefan Nagel (University of Chicago Booth School of Business), and Sébastien Pouget (Toulouse School of Economics)

Recent papers

  • Sornette, D., Andraszewicz, S., Wu, K., Murphy, R. O., Rindler, P., Sanadgol, D., 2020. Overpricing persistence in experimental asset markets with intrinsic uncertainty, Economics: The Open-Access, Open-Assessment E-Journal 14, 1–53.  [EF2016, University of Mannheim]
  • Merkle, C., Müller-Dethard, J., Weber, M., 2020. Closing a mental account: the realization effect for gains and losses, Experimental Economics 46(4), 372. [EF2016, University of Mannheim]
  • Chen, X., Hong, F., Zhao, X., Forthcoming. Concentration and variability of forecasts in artificial investment games: an online experiment on WeChat, Experimental Economics[EF2017, University of Nice]
(All listed papers were previously presented at an EF conference, given in square brackets. See published EF papers for more papers.)

Recent newsletters

2020/01 January 14, 2020 View Download 
2019/05 December 19, 2019 View Download 
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