Asparouhova, Bossaerts and Tran: The Role of Financial Markets in the Unraveling of Credit, Journal of Financial Markets 2026

MAIN SESSIONS: Cash in Order, Market Trade Match, and Final Cash CONTROL SESSIONS EXCEPT CLASS EXPERIMENT: Cash in Order, Market Trade Match, and Final Cash (same as MAIN) CONTROL SESSIONS FROM CLASS EXPERIMENT: Under "MARKET/" (includes input data & analyses)主会话（MAIN SESSIONS）：下单确认（Cash in Order）、市场交易撮合（Market Trade Match）与最终现金结算（Final Cash）。 非课堂实验类对照会话（CONTROL SESSIONS EXCEPT CLASS EXPERIMENT）：下单确认、市场交易撮合与最终现金结算（与主会话一致）。 课堂实验类对照会话（CONTROL SESSIONS FROM CLASS EXPERIMENT）：位于"MARKET/"路径下（包含输入数据与分析结果）。