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Kudos to the researchers for running important replications and kudos to you for disseminating their work! Out of curiosity, what were the design differences? Do you think they have any chance at explaining the differences in findings?

Thiemo Fetzer 🇪🇺🇺🇦 - same handle elsewhere

15 Dec 2024

The biggest design difference is that we allow trades to accept any offer from the order book, whereas they force traders to accept the best offer. Especially with a lack of self control, I could imagine this to matter, but it's pure speculation. We need more studies.

@trfetzer.com

15 Dec 2024

@prashantgarg.bsky.social would be interesting case to see how or if topology of “robust” claims looks different from non robust — no normative connotation here, it may require adding the attention layer as important mediator

In our experiment, we used an experimental manipulation that reduces participant's self control and then we let them trade an asset with declining value. We find strong overpricing for participants with depleted self control.

The replication efforts closely (but not perfectly) mimic our design (we are one of three papers they attempt to replicate), have substantially more power and do not detect the main effects we report in the paper.

This is disappointing news for us of course, but we are grateful that the authors spent the time, energy and money to replicate our experiment. We hope that others attempt additional replications in the future to better understand if reduced self control does or does not affect asset prices.