拉斯维加斯9888

Accounting Seminar (2019-13)

Topic: Incentive schemes, framing, and market behaviour: evidence from an asset-market experiment

Speaker: Xuegang Cui,Professor,Business School, Beijing Normal University

Time: Wednesday, 23 Oct, 10:00-11:30

Location: Room K02, Guanghua Building 2

Abstract:

We investigate how asset prices and trading behaviour are impacted by the structure and framing of incentives, using a lab experiment. Subjects buy and sell a high-risk asset, a low-risk asset, and riskless cash over 10 rounds. We vary, between-subjects, the incentive scheme (relative versus absolute performance), and how the variable component of incentives is framed (bonus versus penalty). Both relative-performance (tournament) incentives and penalty framing are associated with significant increases in the price of the high-risk asset, relative to either its fundamental value or to the price of the low-risk asset. Additional analysis shows significant gender differences in trading behaviour and performance, and evidence that the two are connected.

Introduction:

崔学刚，北京师范大学经济与工商治理学院副院长、管帐学教授、博士生导师，认知神经治理学尝试室主任。目前重要钻研领域为行为与神经管帐学、智能管帐、医院治理睬计。入选教育部新世纪优良人才、财政部首批全国管帐领武士才(学术类)、财政部全国管帐领武士才特殊支持打算、北京市社科理论中青年“百人为程”，兼任中国管帐学会财政治理专业委员会委员、中国治理科学与工程学会-神经治理与神经工程钻研会常务理事、中国技术经济学会神经经济治理专业委员会常务委员、中国总管帐师协会卫生健全分会首届特聘专家、北京市卫生经济学会理事、 北京市卫生经济学会财经专委会照拂，主持国度天然基金、国度社科基金、教育部人文社科规划项目、北京市天然基金、北京市社科基金等国度与省部级课题10余项，在Abacus，International Journal of Finance and Economics，Neuroscience，Personal and Ubiquitous Computing，Annals of telecommunication,《管帐钻延追等国内表学术期刊颁发论文60余篇，先后获得北京市哲学社会科学优良成就奖(2次)、北京市教育讲授成就奖一等奖（1次）和二等奖（2次）、中国产学研合作创新奖(幼我)、财政部中国管帐学会优良论文奖等科研奖项。

Your participation is warmly welcomed!