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Identifying booms and busts in house prices under heterogeneous expectations
Bolt, Wilko; Demertzis, Maria; Diks, Cees G. H.; … - 2014
identify temporary house price bubbles, amplified by trend extrapolation, and crashes reinforced by fundamentalists. The …
Persistent link: https://www.econbiz.de/10010465137
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The effect of consumers' expectations in a booming house market : [space-time patterns in the Netherlands, 1999 - 2000]
Rouwendal, Jan; Longhi, Simonetta - 2007
Persistent link: https://www.econbiz.de/10003644071
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The effect of consumers' expectations in a booming housing market
Rouwendal, Jan; Longhi, Simonetta - 2007 - This version: September 26, 2007
‘bubbles’ the spatial pattern of house prices, which can mainly be attributed to accessibility differences, usually remains …
Persistent link: https://www.econbiz.de/10011372973
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On bubbles in cryptocurrency prices
Oordt, Maarten R. C. van - 2024
This paper investigates how cryptocurrencies relate to concepts such as bubbles, Ponzi-schemes and digital gold in a …
Persistent link: https://www.econbiz.de/10014634056
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A time-varying parameter model for local explosions
Blasques, Francisco; Koopman, Siem Jan; Nientker, Marc - 2018
Locally explosive behavior is observed in many economic and financial time series when bubbles are formed. We introduce … be used to predict the emergence, existence and burst of bubbles. We adopt a flexible observation driven model …
Persistent link: https://www.econbiz.de/10011928329
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Experience does not eliminate bubbles : experimental evidence
Kopányi-Peuker, Anita; Weber, Matthias - 2018
We study the role of experience in the formation of asset price bubbles. Therefore, we conduct two related experiments … participants receive. Each market is repeated three times. In both experiments and in all treatments, we observe sizable bubbles …. These bubbles do not disappear with experience. Our findings in the call market experiment stand in contrast to the …
Persistent link: https://www.econbiz.de/10011932581
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Booms, busts and behavioural heterogeneity in stock prices
Hommes, Cars H.; Veld, Daan in't - 2015 - This draft: July 2015
We empirically evaluate a behavioural model with boundedly rational traders who disagree about the persistence of deviations from the fundamental stock price. Fundamentalist traders believe in mean-reversion, while chartists extrapolate trends. Agents gradually switch between the two rules,...
Persistent link: https://www.econbiz.de/10011301214
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Bubble formation and (in)efficient markets in learning-to-forecast and -optimise experiments
Te, Bao; Hommes, Cars H.; Makarewicz, Tomasz - 2015
, recurring bubbles arise, where the price is 3 times larger than the fundamental value, which were not seen in former experiments. …
Persistent link: https://www.econbiz.de/10011333057
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Behavioral heterogeneity in stock prices
Boswijk, Herman Peter; Hommes, Cars H.; Manzan, Sebastiano - 2005
We estimate a dynamic asset pricing model characterized by heterogeneous boundedly rational agents. The fundamental value of the risky asset is publicly available to all agents, but they have different beliefs about the persistence of deviations of stock prices from the fundamental benchmark. An...
Persistent link: https://www.econbiz.de/10011343265
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Profiteering from the dot-com bubble, sub-prime crisis and Asian financial crisis
McAleer, Michael; Suen, John; Wong, Wing Keung - 2013
Persistent link: https://www.econbiz.de/10009767005