Endogenous Leverage and Default in the Laboratory
---- Acknowledgments ----
We thank Olivier Armantier, Elena Asparouhova, Peter Bossaerts, John Duffy, Douglas Gale, Antonio Guarino, Chad Kendall, John Geanakoplos, David Hirshleifer, Charlie Holt, Rosemarie Nagel, Shyam Sunder, and Bill Zame (discussant) for a helpful suggestions and discussions. We also thank for comments seminar audiences at Bank of Canada, Chapman University, NY-Fed, NYU, UC-Irvine, University of Utah, USC, Yale. We thank Aaron Plesset, Jingnan Chen, Lina Diaz, Jeff Gortmaker, Philip Mulder, Reed Orchinik, Adam Spiegel, and Joe Step for outstanding research assistance during this project. The views in this paper should not be interpreted as reflecting the views of the Federal Reserve Bank of New York, the Federal Reserve System, or the National Bureau of Economic Research.