Janet Hua Jiang - Latest
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Pricing Indefinitely Lived Assets: Experimental Evidence
We study the trading of an asset with bankruptcy risk. The traded price of the asset is, on average, 40% of the expected total dividend payments. We investigate which economic models can explain the low traded price. -
Inflation, Output, and Welfare in the Laboratory
We investigate the effect of inflation on output and welfare in the laboratory. Consistent with monetary theory, we find that inflation acts as a tax on monetary exchange and reduces output and welfare.