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Trading Fast and Slow
Last registered on May 04, 2018
View Trial History
Trading Fast and Slow
Initial registration date
May 04, 2018
May 04, 2018 4:01 PM EDT
Contact Primary Investigator
Other Primary Investigator(s)
University of Trento
Additional Trial Information
Finance & Microfinance
Financial bubbles cause misallocation of resources and even systemic crises. Experimental finance has long studied both the determinants of bubbles and institutional measures to prevent them. Within the framework of the dual process theory, we experimentally investigate whether traders under higher time pressure (Fast condition) behave differently than traders under lower time pressure (Slow condition). We show that the Slow condition heavily dampens market volatility relative to the Fast condition, and that the former generates prices that are overall consistent with the market's fundamental values, once risk aversion is accounted for. We also observe that traders in the Fast condition are prone to the gambler's fallacy, while those in the Slow condition are not.
Ferri, Giovanni, Matteo Ploner and Matteo Rizzolli. 2018. "Trading Fast and Slow." AEA RCT Registry. May 04.
Ferri, Giovanni et al. 2018. "Trading Fast and Slow." AEA RCT Registry. May 04.
Sponsors & Partners
Intervention Start Date
Intervention End Date
Primary Outcomes (end points)
Bubble formation, prices, trade volumes
Primary Outcomes (explanation)
Secondary Outcomes (end points)
Secondary Outcomes (explanation)
The design follows Smith et al (1988) experimental double auction markets design.
Experimental Design Details
voluntary registration to experimental sessions via ORSEE software
Was the treatment clustered?
Sample size: planned number of clusters
Sample size: planned number of observations
Sample size (or number of clusters) by treatment arms
100 subjects for each treatment
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
Supporting Documents and Materials
INSTITUTIONAL REVIEW BOARDS (IRBs)
IRB Approval Date
IRB Approval Number
Post Trial Information
Is the intervention completed?
Is data collection complete?
Is public data available?
Reports, Papers & Other Materials
REPORTS & OTHER MATERIALS