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Giglio, Stefano; Maggiori, Matteo; Stroebel, Johannes; … - 2020 - First draft: April 4th 2020, this draft: May 21, 2020

We analyze how investor expectations about economic growth and stock returns changed during the February-March 2020 … expectations about long-run (10-year) economic and stock market outcomes remained largely unchanged, and, if anything, improved … February saw the largest decline in expectations, and sold the most equity. Those respondents who were the most pessimistic in …

Persistent link: https://www.econbiz.de/10012224226

Bubbles in hybrid markets : how expectations about algorithmic trading affect human trading

Farjam, Mike; Kirchkamp, Oliver - 2015

effect of algorithmic traders we use a design where we manipulate only the expectations of human traders. We find clearly …

Persistent link: https://www.econbiz.de/10011392621

Exchange rates dynamics in a target zone : a heterogeneous expectations approach

Bauer, Christian (contributor); De Grauwe, Paul (contributor) - 2007

Persistent link: https://www.econbiz.de/10003598631

Vertical integration and valuation of international oil companies

Misund, Bård; Osmundsen, Petter; Sikveland, Marius - 2014

This paper studies financial statement information from the 50 largest international oil and gas companies during 1992 to 2011 and evaluates their relation to market values. In particular, we examine how this relationship is affected by accounting method choice (successful efforts versus full...

Persistent link: https://www.econbiz.de/10010428751

Modeling optimism and pessimism in the foreign exchange market

De Grauwe, Paul (contributor); … - 2007

Persistent link: https://www.econbiz.de/10003496811

Bubbles and crashes in a behavioural finance model

De Grauwe, Paul; Grimaldi, Marianna - 2004

We develop a simple model of the exchange rate in which agents optimize their portfolio and use different forecasting rules. They check the profitability of these rules ex post and select the more profitable one. This model produces two kinds of equilibria, a fundamental and a bubble one. In a...

Persistent link: https://www.econbiz.de/10011401333

Illusion of expertise in portfolio decisions : an experimental approach

Fellner, Gerlinde; Güth, Werner; Maciejovsky, Boris - 2001

Overall, 72 subjects invest their endowment in four risky assets. Each com-bination of assets yields the same expected return and variance of returns. Illusion of expertise prevails when one prefers nevertheless the self-selected portfolio. After being randomly assigned to groups of four...

Persistent link: https://www.econbiz.de/10011408429

Seven pitfalls of technical analysis

Caporale, Guglielmo Maria; Plastun, Alex - 2023

This paper examines the main drawbacks of technical analysis. Although this is widely used by practitioners, from an academic perspective it can only be seen as a form of "voodoo finance". In particular, it runs into the following pitfalls: Subjectivity; Doubtful assumptions; Unjustified...

Persistent link: https://www.econbiz.de/10013489574

Fundamentals, misvaluation, and investment : the real story

Chirinko, Robert S. (contributor); … - 2007

Persistent link: https://www.econbiz.de/10003495775

Unleashing animal spirits : self-control and overpricing in experimental asset markets

Kocher, Martin; Lucks, Konstantin E.; Schindler, David - 2016

One possible determinant of overpricing on asset markets is a lack of self-control abilities of traders. Self-control is the individual capacity to override or inhibit undesired behavioral tendencies such as impulses and to refrain from acting on them. We implement the first experiment that is...

Persistent link: https://www.econbiz.de/10011444434