Trading Institutions in Experimental Asset Markets PDF Download
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Author: Bulent Guler
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Author: Bulent Guler
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Author: Volodymyr Lugovskyy
Publisher:
ISBN:
Category : Capital assets pricing model
Languages : en
Pages : 35
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Author: Daniel Friedman
Publisher:
ISBN:
Category : Finance
Languages : en
Pages : 40
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Author: Jan Pieter Krahnen
Publisher:
ISBN:
Category :
Languages : en
Pages :
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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: Daniel Friedman
Publisher: London : Department of Economics, University of Western Ontario
ISBN:
Category : Bonds
Languages : en
Pages : 96
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Author: Stefan Palan
Publisher: Springer
ISBN: 9783642021466
Category : Business & Economics
Languages : en
Pages : 171
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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: Daniel Friedman
Publisher:
ISBN:
Category : Capital market
Languages : en
Pages : 92
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Author: Thomas Stöckl
Publisher:
ISBN:
Category :
Languages : en
Pages : 31
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Author: Tim A. Carle
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Category :
Languages : en
Pages :
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Author: Christoph Brunner
Publisher:
ISBN:
Category :
Languages : en
Pages :
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