NEWS!! Payments will take place in SSEL (Baxter, 5)

Money Management Experiment

The experiment consists of a number of sessions where managers manage securities and case given to them by investors. Investors see how managers have done in the past and choose to distribute their wealth among different managers. Managers start a session with the securities and cash given to them by investors. Managers can then trade in markets that remain open during 30 minutes. The profits managers make in a session depend on their final holdings of securities and cash. The payout on the securities depends on the random drawing of one out of three states. Drawing takes place at the beginning of each period, but is not revealed to anyone until the end of the period. Managers are paid according to the wealth they are given by investors. Investors get paid according to the earnings made by the managers they distributed their assets to.

• For detailed information on the experiment and help with trading, click on the link Instructions for Managers - if you are a manager, or Instructions for Investors - if you are an investor - on the menu (to the left of this screen)..
• Latest news is announced in the link News .

Contact us: exp(at)hss.caltech.edu

°jMarkets was developed at Caltech's Social Sciences Experimental Lab (SSEL) by Walter Yuan (technical project supervisor), Raj Advani (lead programmer), Peter Bossaerts (scientific supervisor) and William Zame (scientific advisor). jMarkets is the result of a project to develop open-source, Java-based software for large-scale, web-based markets experiments. Financial support is provided by the U.S. National Science Foundation and by grants from the R.G. Jenkins Family and William D. Hacker to Caltech.