Title: An experimental test of trade hysteresis: market exit and entry decisions in the presence of sunk costs and exchange rate uncertainty Authors and Affiliation: • David Ansic (University of Leeds) • Geoffrey Pugh (Staffordshire University) Address for correspondence: Geoff Pugh, Economics Division, Staffordshire University Business School, Leek Road, Stoke-on-Trent, ST4 2DF, UK. Key Words: Exchange rate instability; decision making under uncertainty; trade hysteresis JEL Classification: C91; F31