The Role Of The End Time In Experimental Asset Markets
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The Role Of The End Time In Experimental Asset Markets
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Author : Anita Kopányi-Peuker
language : en
Publisher:
Release Date : 2021
The Role Of The End Time In Experimental Asset Markets written by Anita Kopányi-Peuker and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with categories.
Bubbles And Crashes In Experimental Asset Markets
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Author : Stefan Palan
language : en
Publisher: Springer
Release Date : 2010-02-04
Bubbles And Crashes In Experimental Asset Markets written by Stefan Palan and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-02-04 with Business & Economics categories.
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.
Trading Institutions In Experimental Asset Markets
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Author : Bulent Guler
language : en
Publisher:
Release Date : 2021
Trading Institutions In Experimental Asset Markets written by Bulent Guler and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with categories.
Experimental Asset Markets With An Indefinite Horizon
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Author : John Duffy
language : en
Publisher:
Release Date : 2019
Experimental Asset Markets With An Indefinite Horizon written by John Duffy and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with Electronic books categories.
Bubbles And Crashes In Experimental Asset Markets
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Author : Stefan Palan
language : en
Publisher: Springer Science & Business Media
Release Date : 2009-10-03
Bubbles And Crashes In Experimental Asset Markets written by Stefan Palan and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-10-03 with Business & Economics categories.
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.
Nonlinear Dynamics And Evolutionary Economics
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Author : Richard Hollis Day
language : en
Publisher: Oxford University Press, USA
Release Date : 1993
Nonlinear Dynamics And Evolutionary Economics written by Richard Hollis Day and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Business & Economics categories.
Advances in physics, computers, and mathematics have made it possible to illustrate an astonishing array of potential behavior that can occur when nonlinear interactions are present. As Prigogine explains from a physicist's perspective, the fundamental role of instability and bounded rationality provide more precise understanding for evolution and changes. This volume considers these developments from various fields in the context of economic science. The work starts with a general non-mathematical discussion, introducing the major themes--nonlinearity, dynamical systems, and evolution in economic processes. The work continues with nonlinear analysis of macroeconomic growth and fluctuations. It describes analyses of economic adaptation, learning, and self-organization. The volume also scrutinizes a specific market--equities using nonlinear analysis, controlled experiments, and statistical inference when nonlinearity plays an essential role in data generation. The volume closes with an historical reflection by Richard Goodwin and a roundtable discussion on basic issues and new challenges in nonlinear economic dynamics.
Heterogeneity Of Beliefs And Trade In Experimental Asset Markets
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Author : Tim A. Carle
language : en
Publisher:
Release Date : 2016
Heterogeneity Of Beliefs And Trade In Experimental Asset Markets written by Tim A. Carle and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
Peaks And Valleys
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Author : Charles Noussair
language : en
Publisher:
Release Date : 2008
Peaks And Valleys written by Charles Noussair and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
Experimental Economics Financial Markets Auctions And Decision Making
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Author : Fredrik Nils Andersson
language : en
Publisher: Springer Science & Business Media
Release Date : 2011-06-28
Experimental Economics Financial Markets Auctions And Decision Making written by Fredrik Nils Andersson and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-06-28 with Business & Economics categories.
Experimental Economics: Financial Markets, Auctions, And Decision Making is based on research presented at the 20th Arne Ryde Symposium on Experimental Economics, held on November 9-11 at Lund University. The volume is divided into two parts. In Part I, interviews with prominent researchers in the field, all invited speakers at the Symposium, are presented. Those interviewed are Peter Bohm, Catherine Eckel, Werner Güth, John Hey, Daniel Kahneman, Alvin Roth, Vernon Smith, and Martin Weber. The interviews address important questions about basic experimental methods and the interpretation of results. In addition, these researchers answer questions relating to their specific fields and to their contributions at the Symposium. They are also asked to single out the most important findings in the field. Part II contains selected contributions from the conference. Topics covered include attitudes towards risk and inequality; pitfalls in experimental economics; analysis of trading-period duration; robustness in learning; video experiments on decision making and fairness; sequential prisoners' dilemmas; and collusion in auctions.
Bubbles And Incentives
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Author : Stéphane Robin
language : en
Publisher:
Release Date : 2013
Bubbles And Incentives written by Stéphane Robin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
We explore the effects of competitive incentives and of their time horizon on the evolution of both asset prices and trading activity in experimental asset markets. We compare i) a no-bonus treatment based on Smith, Suchanek and Williams (1988); ii) a short-term bonus treatment in which bonuses are assigned to the best performers at the end of each trading period; iii) a long-term bonus treatment in which bonuses are assigned to the best performers at the end of the 15 periods of the market. We find that the existence of bonus contracts does not increase the likelihood of bubbles but it affects their severity, depending on the time horizon of bonuses. Markets with long-term bonus contracts experience lower price deviations and a lower turnover of assets than markets with either no bonuses or long-term bonus contracts. Short-term bonus contracts increase price deviations but only when markets include a higher share of male traders. At the individual level, the introduction of bonus contracts increases the trading activity of males, probably due to their higher competitiveness. Finally, both mispricing and asset turnover are lower when the pool of traders is more risk-averse.