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Author : Robert Merl
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (127 download)
Download or read book Literature Review of Experimental Asset Markets with Insiders written by Robert Merl and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jan Pieter Krahnen
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book Insider Trading and Portfolio Structure in Experimental Asset Markets written by Jan Pieter Krahnen and published by . This book was released on 2000 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We report results of a series of nine market experiments with asymmetric information and a fundamental value process that is more quot;realisticquot; than those in previous experiments. Both a call market institution and a continuous double auction mechanism are employed. We find considerable pricing inefficiencies that are only partially exploited by insiders. The magnitude of insider gains is analyzed experimentally. We find support for the hypothesis that the continuous double auction leads to more efficient outcomes. Finally, we present evidence of an endowment effect: the initial portfolio structure influences the final asset holdings of experimental subjects.
Author : Owen Powell
Publisher :
ISBN 13 :
Total Pages : 30 pages
Book Rating : 4.:/5 (13 download)
Download or read book Experimental Asset Markets written by Owen Powell and published by . This book was released on 2015 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews new research on experimental asset markets, markets in which the value of the traded asset is homogeneous across all agents. Such markets have been shown to be prone to substantial mispricing, usually in the form of a bubble-and-crash pattern. This calls into question the efficiency of such markets. The studies reviewed consider how market efficiency is affected by the characteristics of traders (intelligence, knowledge, etc.), the properties of the traded asset (the time path of fundamental value, information provision, etc.), and the structure of the market (market interventions, compensation schemes, etc.). Finally, the paper summarizes with a discussion related to defining a unique measure of mispricing.
Author : Daniel Friedman
Publisher : London : Department of Economics, University of Western Ontario
ISBN 13 :
Total Pages : 96 pages
Book Rating : 4.0/5 ( download)
Download or read book The Informational Efficiency of Experimental Asset Markets written by Daniel Friedman and published by London : Department of Economics, University of Western Ontario. This book was released on 1983 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Füllbrunn, Sascha
Publisher : Edward Elgar Publishing
ISBN 13 : 1800372337
Total Pages : 451 pages
Book Rating : 4.8/5 (3 download)
Download or read book Handbook of Experimental Finance written by Füllbrunn, Sascha and published by Edward Elgar Publishing. This book was released on 2022-10-13 with total page 451 pages. Available in PDF, EPUB and Kindle. Book excerpt: With an in-depth overview of the past, present and future of the field, The Handbook of Experimental Finance provides a comprehensive analysis of the current topics, methodologies, findings, and breakthroughs in research conducted with the help of experimental finance methodology. Leading experts suggest innovative ways of designing, implementing, analyzing, and interpreting finance experiments.
Author : Jan Pieter Krahnen
Publisher :
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.:/5 (174 download)
Download or read book Insider Trading and Portfolio Structure in Experimental Asset Markets written by Jan Pieter Krahnen and published by . This book was released on 1995 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Shyam Sunder
Publisher :
ISBN 13 :
Total Pages : 81 pages
Book Rating : 4.:/5 (269 download)
Download or read book Experimental Asset Markets written by Shyam Sunder and published by . This book was released on 1992 with total page 81 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Klaus Heilmann
Publisher :
ISBN 13 :
Total Pages : 25 pages
Book Rating : 4.:/5 (249 download)
Download or read book Aggregation of Information, Insider Trading and Liquidity in Experimental Call Markets written by Klaus Heilmann and published by . This book was released on 2001 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Tyrone Callahan
Publisher :
ISBN 13 :
Total Pages : 51 pages
Book Rating : 4.:/5 (129 download)
Download or read book Speculative Markets with an Unknown Number of Insiders written by Tyrone Callahan and published by . This book was released on 2004 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes how uncertainty about the number of informed traders in a market alters the market characteristics. Increasing the uncertainty about the number of informed traders while holding the expected number of informed traders constant: (i) increases the residual price uncertainty in the market; (ii) increases the total expected volume of informed trade and profits earned by insiders; and (iii) significantly prolongs the impact of an information event by extending the expected trade horizon of insiders and the time over which market liquidity is depressed. These results are compared with those found in experimental asset markets with a similar information structure.
Author : Anita Kopányi-Peuker
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (126 download)
Download or read book The Role of the End Time in Experimental Asset Markets written by Anita Kopányi-Peuker and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Stefan Palan
Publisher : Springer Science & Business Media
ISBN 13 : 3642021476
Total Pages : 179 pages
Book Rating : 4.6/5 (42 download)
Download or read book Bubbles and Crashes in Experimental Asset Markets written by Stefan Palan and published by Springer Science & Business Media. This book was released on 2009-10-03 with total page 179 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book describes a laboratory experiment designed to test the causes and properties of bubbles in financial markets and explores the question whether it is possible to design markets which avoid such bubbles and crashes. In the experiment, subjects were given the opportunity to trade in a stock market modeled after the seminal work of Smith et al. (1988). To account for the increasing importance of online betting sites, subjects were also allowed to trade in a digital option market. The outcomes shed new light on how subjects form and update their expectations, placing special emphasis on the bounded rationality of investors. Various analytical bubble measures found in the literature are collected, calculated, classified and presented for the first time. The very interesting new bubble measures "Dispersion Ratio", "Overpriced Transactions" and "Underpriced Transactions" are developed, making the book an important step towards the research goal of preventing bubbles and crashes in financial markets.
Author : Werner Güth
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.:/5 (174 download)
Download or read book Financial Markets with Assymetric Information written by Werner Güth and published by . This book was released on 1992 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Andrea Morone
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (118 download)
Download or read book Asset Markets in the Lab : A Literature Review written by Andrea Morone and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Bulent Guler
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (133 download)
Download or read book Trading Institutions in Experimental Asset Markets written by Bulent Guler and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Stefan Palan
Publisher : Springer
ISBN 13 : 9783642021466
Total Pages : 171 pages
Book Rating : 4.0/5 (214 download)
Download or read book Bubbles and Crashes in Experimental Asset Markets written by Stefan Palan and published by Springer. This book was released on 2010-02-04 with total page 171 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book describes a laboratory experiment designed to test the causes and properties of bubbles in financial markets and explores the question whether it is possible to design markets which avoid such bubbles and crashes. In the experiment, subjects were given the opportunity to trade in a stock market modeled after the seminal work of Smith et al. (1988). To account for the increasing importance of online betting sites, subjects were also allowed to trade in a digital option market. The outcomes shed new light on how subjects form and update their expectations, placing special emphasis on the bounded rationality of investors. Various analytical bubble measures found in the literature are collected, calculated, classified and presented for the first time. The very interesting new bubble measures "Dispersion Ratio", "Overpriced Transactions" and "Underpriced Transactions" are developed, making the book an important step towards the research goal of preventing bubbles and crashes in financial markets.
Author : John Duffy
Publisher :
ISBN 13 :
Total Pages : 61 pages
Book Rating : 4.:/5 (111 download)
Download or read book Experimental Asset Markets with an Indefinite Horizon written by John Duffy and published by . This book was released on 2019 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Leighton Vaughan Williams
Publisher : Routledge
ISBN 13 : 113671569X
Total Pages : 289 pages
Book Rating : 4.1/5 (367 download)
Download or read book Prediction Markets written by Leighton Vaughan Williams and published by Routledge. This book was released on 2011-06-16 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: How does one effectively aggregate disparate pieces of information that are spread among many different individuals? In other words, how does one best access the ‘wisdom of the crowd’? Prediction markets, which are essentially speculative markets created for the purpose of aggregating information and making predictions, offer the answer to this question. The effective use of these markets has the potential not only to help forecast future events on a national and international level, but also to assist companies, for example, in providing improved estimates of the potential market size for a new product idea or the launch date of new products and services. The markets have already been used to forecast uncertain outcomes ranging from influenza to the spread of infectious diseases, to the demand for hospital services, to the box office success of movies, climate change, vote shares and election outcomes, to the probability of meeting project deadlines. The insights gained also have many potentially valuable applications for public policy more generally. These markets offer substantial promise as a tool of information aggregation as well as forecasting, whether alone or as a supplement to other mechanisms like opinion surveys, group deliberations, panels of experts and focus groups. Moreover, they can be applied at a macroeconomic and microeconomic level to yield information that is valuable for government and commercial policy-makers and which can be used for a number of social purposes. This volume of original readings, contributed by many of the leading experts in the field, marks a significant addition to the base of knowledge about this fascinating subject area. The book should be of interest to anyone looking at monetary economics, economic forecasting and microeconomics.
