15th Annual Meeting of the
Society for Experimental Finance
12 - 14 June, 2025 | Maastricht, Netherlands
Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
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Session Overview |
Date: Wednesday, 11/June/2025 | |
6:00pm | Welcome Reception Location: Stadhuis Maastricht Please note that you cannot bring any bags to this location (handbags / purses are fine).
Address: Maastricht Town Hall, Markt 78, 6211 CL Maastricht |
Date: Thursday, 12/June/2025 | ||
8:00am | Registration |
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8:30am - 9:00am |
Welcome + Award Ceremony Location: Aula (Room A) Chair: Stefan Palan Chair: Peiran Jiao |
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9:00am - 10:00am |
Keynote: Itay Goldstein Location: Aula (Room A) Chair: Olga Rud |
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10:00am - 10:30am |
Coffee Break |
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10:30am - 11:50am |
P1-A: Asset Pricing Location: Aula (Room A) Chair: Olga Rud An experimental analysis of the IPO pricing mechanism: The case of Book-building An experimental analysis of the IPO pricing mechanism: The case of auction method A Cross-Country Experimental Test of the Modigliani-Miller Theorem: Evidence from Spain and China Does the manager’s gender influence shareholders' firm valuation? |
P1-B: Risk 1 Location: H0.06 (Room B) Chair: Rene Schwaiger The Influence of Uncertain Environmental Impact on Risk Tolerance in Asset Allocation Risk preferences and pro-environmental attitudes. An experiment Myopic Learning Environment and Long-Term Goals Unraveling Myopic Loss Aversion: The Role of Investment Flexibility Versus Information Feedback |
12:00pm - 1:15pm |
Lunch Location: Mensa |
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1:15pm - 2:15pm |
P2-A: Asset Markets 1 Location: Aula (Room A) Chair: Gökhan Aydogan Mining Centralization in the Cryptocurrency Markets: a Laboratory Experiment Skin conductance predicts earnings in a market bubble-and-crash scenario The Role of Noisy Coding and Serial Dependence in the Experience-Description Gap |
P2-B: SRI 1 Location: H0.06 (Room B) Chair: Stefan Zeisberger Does ESG Framing Shift Investment Focus? Experimental Evidence on Myopic Investment Behavior Information nudges vs. default nudges: Comparing approaches for promoting sustainable investments Nudging Investors Towards Sustainability – A Field Experiment |
2:15pm - 2:30pm |
Break |
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2:30pm - 3:30pm |
P3-A: SRI 2 Location: Aula (Room A) Chair: YiLong Xu What do Investors Learn from the Sustainable Investments of Others? Spotting "Washing": Can Financial Experts Detect 'Say-Do Gap' in Banking Reports – An Experimental Investigation A "Green Premium" or a "Brown Discount": Evidence from Experimental Asset Markets |
P3-B: Household Finance Location: H0.06 (Room B) Chair: Abigail Hurwitz A Little Nudge to Reduce Credit Card Debts Egoistic Altruism: Framing Pension Contributions as Donations to Your Future Self Health Shocks and Annuity Choices |
3:30pm - 4:00pm |
Coffee Break |
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4:00pm - 5:00pm |
P4-A: Vernon Smith Awards Location: Aula (Room A) Chair: Christian König-Kersting The opportunity cost of debt aversion The Effect of Anticipated Discrimination on Gender Differences in Entrepreneurial Finance Markets or Patents? A Comparative Study on Incentivising Collective Innovation. |
P4-B: Forecasting & Belief Formation Location: H0.06 (Room B) Chair: Artur Ehle Revealing the Hidden Step: The Role of Intermediate Predictions in Expectation Formation Overreaction in Expectations: The Role of Expectation Feedback Belief Formation in Stock Markets: Recency and Saliency of Past Returns |
6:30pm | SEF Scientific Board Dinner Location: Brandsøn Members of the SEF Scientific Board only. Address: Brandsøn, 2 Het Bat, 6211 EX Maastricht
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Date: Friday, 13/June/2025 | ||
9:00am - 10:00am |
P5-A: Risk 2 Location: Aula (Room A) Chair: Stephen Cheung What’s in a Distribution? Rethinking Skewness Preferences Beyond Asymmetry Return expectations and risk-taking with investment guarantees Who chooses to self-manage their investments? |
P5-B: Metascience Location: H0.06 (Room B) Chair: Armando Holzknecht Crowd Wisdom in Financial Advice: The influence of group size and age on retail investors Wisdom of the Crowd: Crowd Analysis Project #ManyDesignsCarbon: Do behavioral interventions increase support for a price of carbon? |
10:00am - 10:30am |
Coffee Break |
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10:30am - 11:50am |
P6-A: Inflation Expectations & Choice Architecture Location: Aula (Room A) Chair: Jan Tuinstra Direct Elicitation of Parametric Belief Distributions: An application to inflation expectations Real Consumption Plans: the asymmetric effects of symmetric changes in inflation and nominal interest rates Preventing Search with Defaults Biased Trade-off Resolution: Gross Return Illusion and Fee Aversion in Fund Choice |
P6-B: SRI 3 Location: H0.06 (Room B) Chair: Markus Strucks Corporate Actions as Moral Issues Drivers of Green Investment Decisions in a Portfolio-Building Task The structure of sustainable investment demand Beyond the Basket: Do Responsible Consumers Build Sustainable Portfolios? |
12:00pm - 1:15pm |
Lunch Location: Mensa |
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1:15pm - 2:35pm |
P7-A: Asset Markets 2 Location: Aula (Room A) Chair: Yohanes Eko Riyanto Depository Receipts and Arbitrage: an Experiment Do Traders Believe that Public News Give Them an Edge? How do retail investors use order flow data? AI vs. Humans: Are Large Language Models More Rational and Accurate in Financial Predictions? |
P7-B: Bank Runs Location: H0.06 (Room B) Chair: Hubert Janos Kiss Asset Prices and Bank Runs: Theory and Experimental Evidence Bank Runs in Large Experimental Banks Redemption Fees and Gates in the Lab |
2:35pm - 2:45pm |
Break |
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2:45pm - 3:45pm |
Keynote: Rosemarie Nagel Location: Aula (Room A) Chair: Peiran Jiao |
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3:45pm - 4:10pm |
Coffee Break |
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4:10pm - 5:00pm |
SEF General Assembly Location: Aula (Room A) |
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6:00pm | Boat Trip Conference Dinner Please be at the boat / pier 2 on time at 18:00. Address: Maaspromenade 58, 6211 HS Maastricht |
Date: Saturday, 14/June/2025 | ||
8:30am - 10:00am |
P8-A: (Portfolio) Choices Location: Aula (Room A) Chair: Julia Elisabeth Rose Are complete markets too complex? Autonomous better decisions: how to overcome choice overload with simple choice procedures The Fixed Disposition Effect Choices, Axioms, and Reconciliations |
P8-B: Asset Markets 3 Location: H0.06 (Room B) Chair: Christoph Huber Pricing Skewed Assets in Multi-Assets Experimental Markets Beyond Aversion and Seeking: Examining Divergent Ambiguity Attitudes in experimental Asset Markets Do experimental asset market results replicate? High-powered preregistered replications of 17 claims Information bias, communication networks, and financial markets |
10:00am - 10:30am |
Coffee Break |
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10:30am - 11:50am |
P9-A: Peer Effects & Delegation Location: Aula (Room A) Chair: Anita Kopanyi-Peuker The Impact of Explainability on Robo-Advisory Recommendations: Evidence from a Field Experiment Information Processing: The Role of Expertise within Peer Effects Social Influence in Sustainable Investments Disclosure of conflict of interest in long-run relationships |
P9-B: Financial Planning & Insurance Location: H0.06 (Room B) Chair: Henrik von Hagen The power of the right question: Financial goals and choice guidance What drives the dynamic inconsistency in planned versus actual risk-taking? Insurance as Commitment? Mandatory Insurance against Natural Hazards: Behavioral Implications of Risk Perception and Risk Reduction |
11:50am - 12:00pm |
Break |
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12:00pm - 1:00pm |
P10-A: Risk 3 Location: Aula (Room A) Chair: Beatrice Boulu-Reshef Exploring the Impact of ESG Information on Asset Pricing: Laboratory Experimental Evidence Mood, Anxiety and Risk Truthful reputation? Theory and Experiments in the Context of Investment Behavior |
P10-B: SRI 4 Location: H0.06 (Room B) Chair: Peiran Jiao Alternative emissions trading schemes: A large-scale lab-in-the-field experiment from China Sustainable Investment May Backfire: Persistence of Sustainability Preferences What Drives Green Investments? Understanding Investors’ Preferences |
1:00pm | Lunch / End of Conference Location: Mensa |