zTree generated two tables: Contracts and Subjects. The contracts tables contain the dynamics of the period and are included below. The subjects tables are in the directory SubjectFiles and included in files (Excel and text) that have the same names as the files below with an added 'subjects' at the end of the name. These files keep track of each subject's earnings and shares and the headings are self-explanatory. They also include dividends earned each round. Keep in mind that subject 1 is only a dummy terminal to roll the die and therefore only the die roll is relevant information for that subject. Die roll is a number from 1-4, where 1=0 tokens, 2=8 tokens, 3=28 tokens and 4=60 tokens. You don't actually need that row (for dummy subject 1) as the column Total dividends keeps track of the dividends received by each subject in each round. That number (total dividend) divided by the number of stocks held by a subject gives the dividend realization for each share in that round (that number matches the die roll by subject 1). Regarding contract files (in this directory). Names of the files (included in this directory): zTreeFiles.zip contains the zTree programs. a1.prn a2.prn a3.prn == The strict quantity limit treatment b1.prn b2.prn b3.prn == Cash reserve treatment d1.prn d2.prn == No short selling The other files are labeled by treatment and have the same format. All the data sets contain the following fields in order: Period Seller Buyer Group Price Traded contractID tradeID Maker The Period is the market and is numbered from 1-15. Seller is the subject selling shares Buyer is the subject buying shares Note that the subjects are numbered from 1-10, though there are nine subjects in the experiment. Subject 1 is a dummy terminal serving the experimenter to enter the dice number. Only subjects 2-10 trade. Note that occasionally buyer number and seller number are -1 or -2. A negative number denotes no takers for the offer. Group is variable of no consequence (only one group was used per session) and takes on the value of 1 Price is the bid or ask price. Price is the actual trade price when Traded=1 (see below) Traded takes on the value of 1 if trade took place. In most instances, Trade=0 indicating an untaken bid or ask. contractID provides a separate ID for each bid or ask made, such that the first is 1, the next is 2, ... tradeID provides a separate ID for each trade executed, such that the first contract is 1, the next is 2, ... Maker indictas who initiated the bid or ask that did or did not result in a trade