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Author : Julija Michailova
Publisher :
ISBN 13 :
Total Pages : 35 pages
Book Rating : 4.:/5 (749 download)
Download or read book Overconfidence and Bubbles in Experimental Asset Markets written by Julija Michailova and published by . This book was released on 2011 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Stefan Palan
Publisher :
ISBN 13 : 9783642021480
Total Pages : 188 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 . This book was released on 2009-10-02 with total page 188 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. In addition, the book formulates concrete new research hypotheses for future studies.
Author : Daniel Hosp
Publisher : GRIN Verlag
ISBN 13 : 3656270449
Total Pages : 19 pages
Book Rating : 4.6/5 (562 download)
Download or read book Bubbles in Asset Markets - A critical valuation of experimental studies written by Daniel Hosp and published by GRIN Verlag. This book was released on 2012-09-11 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2012 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 1,00, University of Innsbruck, language: English, abstract: Bubbles in Asset Market gibt eine kurzen Überblick darüber, wie "Blasen" in Finanzmärkten entstehen könnne und wie deren Entstehung anhand von Experimenten bisher getestet wurde. Darauf aufbauen gibt es empfehlungen für eine geändertes Design der Experimente um bessre Ergebnisse erzielen zu können.
Author :
Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.:/5 (248 download)
Download or read book Bubbles in Experimental Asset Markets written by and published by . This book was released on 2002 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Erich Kirchler
Publisher :
ISBN 13 :
Total Pages : 24 pages
Book Rating : 4.:/5 (129 download)
Download or read book Simultaneous Over- and Underconfidence written by Erich Kirchler and published by . This book was released on 2013 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we investigate individual overconfidence within the context of an experimental asset market. Overall, 72 participants traded one risky asset on six markets of 12 participants each. Our results indicate that participants are not generally prone to overconfidence. A comparison of two different measures of overconfidence, (i) subjective confidence intervals and (ii) differences between objective accuracy and subjective certainty, lead to a different classification of behavior in our data-set. We observe well-calibration as well as over- and underconfidence.
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 : Lucy F. Ackert
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.:/5 (129 download)
Download or read book Bubbles in Experimental Asset Markets written by Lucy F. Ackert and published by . This book was released on 2015 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: The robustness of bubbles and crashes in markets for finitely lived assets is perplexing. This paper reports the results of experimental asset markets in which participants trade two assets. In some markets, price bubbles form. In these markets, traders will pay even higher prices for the asset with lottery characteristics, i.e., a claim on a large, unlikely payoff. However, institutional design has a significant impact on deviations in prices from fundamental values, particularly for an asset with lottery characteristics. Price run-ups and crashes are moderated when traders finance purchases of the assets themselves and are allowed to short sell.
Author : Mark D. Alicke
Publisher : Psychology Press
ISBN 13 : 113542344X
Total Pages : 361 pages
Book Rating : 4.1/5 (354 download)
Download or read book The Self in Social Judgment written by Mark D. Alicke and published by Psychology Press. This book was released on 2013-05-13 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: The volume begins with a historical overview of the self in social judgment and outlines the major issues. Subsequent chapters, all written by leading experts in their respective areas, identify and elaborate four major themes regarding the self in social judgment: · the role of the self as an information source for evaluating others, or what has been called 'social projection' · the assumption of personal superiority as reflected in the pervasive tendency for people to view their characteristics more favorably than those of others · the role of the self as a comparison standard from or toward which other people's behaviors and attributes are assimilated or contrasted · the relative weight people place on the individual and collective selves in defining their attributes and comparing them to those of other people
Author : Vivian Lei
Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.:/5 (416 download)
Download or read book Non-speculative Bubbles in Experimental Asset Markets written by Vivian Lei and published by . This book was released on 1998 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 : Brice Corgnet
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (115 download)
Download or read book On Booms that Never Bust written by Brice Corgnet and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Kun Zhang
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (16 download)
Download or read book Essays on Bubbles and Crashes in Experimental Asset Markets written by Kun Zhang and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Michael Kirchler
Publisher :
ISBN 13 :
Total Pages : 41 pages
Book Rating : 4.:/5 (731 download)
Download or read book Bubble Or No Bubble written by Michael Kirchler and published by . This book was released on 2009 with total page 41 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 : Steffen Ahrens
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (115 download)
Download or read book Price Dynamics and Trader Overconfidence written by Steffen Ahrens and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Overconfidence is one of the most important biases in financial markets and commonly associated with excessive trading and asset market bubbles. So far, most of the finance literature takes overconfidence as a given, "static" personality trait. In this paper we introduce a novel experimental design which allows us to track different measures of overconfidence during an asset market bubble. The results show that overconfidence co-moves with asset prices and points towards a feedback loop in which overconfidence adds fuel to the flame of existing bubbles.
Author : Kun Zhang (Ph.D.)
Publisher :
ISBN 13 :
Total Pages : 432 pages
Book Rating : 4.:/5 (111 download)
Download or read book Essays on Bubbles and Crashes in Experimental Asset Markets written by Kun Zhang (Ph.D.) and published by . This book was released on 2015 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: The main result is that team decision-making does not result in smaller price bubbles. However team decision-making result in less variance among markets (sessions). Further more, my experimental design allows us to record the chat dialogues, which enable us to have insight into team decision-making. The content of the messages allows us explore the reasons behind traders' asks and bids.
Author : Stephen L. Cheung
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (732 download)
Download or read book League-table Incentives and Price Bubbles in Experimental Asset Markets written by Stephen L. Cheung and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
