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Mind, body, bubble! : psychological and biophysical dimensions of behavior in experimental asset markets
Butler, David J.; Cheung, Stephen L. - 2018
Asset market bubbles and crashes are a major source of economic instability and inefficiency. Sometimes ascribed to …
Persistent link: https://www.econbiz.de/10011870688
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Trading while sleepy? : circadian mismatch and excess volatility in a global experimental asset market
Dickinson, David L.; Chaudhuri, Ananish; … - 2017
asset market bubbles occur in all sessions, but global markets had significantly more extreme and longer duration valuation … bubbles. Additionally, subjects at the most suboptimal times-of-day held significantly more asset shares in their portfolios …
Persistent link: https://www.econbiz.de/10011731909
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Conspicuous consumption in the United States and China
Jinkins, David - 2014
I develop a model of conspicuous consumption to empirically measure the importance of peer beliefs to Americans and Chinese. In the model, a consumer cares not only about the direct utility she receives from consumption, but also about the way her consumption pattern affects her peer group's...
Persistent link: https://www.econbiz.de/10010381891
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Income inequality and saving
Alvarez-Cuadrado, Francisco; Attar, Mayssun el - 2012
Over the last three decades, average income for the bottom half of the US distribution increased by 8% while their average saving rate decreased by eight percentage points. Over the same period the US experienced a substantial increase in inequality and a continuous decrease in the aggregate...
Persistent link: https://www.econbiz.de/10009681548
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Showing off to the new neighbors? : income, socioeconomic status and consumption patterns of internal migrants
Danzer, Alexander M.; Dietz, Barbara; Gatskova, Ksenia; … - 2013
This paper analyses incomes and socioeconomic status of internal migrants over time and in comparison to their new neighbors and investigates whether status consumption is a way for newly arrived city dwellers to signal their social standing. Using a novel dataset from the emerging economy of...
Persistent link: https://www.econbiz.de/10009740076
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Frictional unemployment with stochastic bubbles
Vuillemey, Guillaume; Wasmer, Etienne - 2016
Bubbles are recurrent events, which contribute to both macroeconomic and employment volatility. We introduce stochastic … bubbles in the standard search-and matching model of the labor market. The economy alternates between latent and bubbly states …, each being associated with a distinct solution for the market value of firms (respectively, stable or explosive). Bubbles …
Persistent link: https://www.econbiz.de/10011543923
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Learning to take risks? : the effect of education on risk-taking in financial markets
Black, Sandra E.; Devereux, Paul J.; Lundborg, Petter; … - 2015
We investigate whether acquiring more education when young has long-term effects on risk-taking behavior in financial markets and whether the effects spill over to spouses and children. There is substantial evidence that more educated people are more likely to invest in the stock market....
Persistent link: https://www.econbiz.de/10010498384
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Do board gender quotas matter? : selection, performance and stock market effects
Ferrari, Giulia; Ferraro, Valeria; Profeta, Paola; … - 2018
From business to politics and academia, the economic effects of the introduction of gender quotas are under scrutiny. We provide new evidence based on the introduction of mandatory gender quotas for boards of directors of Italian companies listed on the stock market. Comparing before and after...
Persistent link: https://www.econbiz.de/10011845209
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Testing CAPM with a large number of assets
Pesaran, M. Hashem; Yamagata, Takashi - 2012
This paper is concerned with testing the time series implications of the capital asset pricing model (CAPM) due to Sharpe (1964) and Lintner (1965), when the number of securities, N, is large relative to the time dimension, T, of the return series. In the case of cross-sectionally correlated...
Persistent link: https://www.econbiz.de/10009535779
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Culture and adult financial literacy: evidence from the United States
Davoli, Maddalena; Rodríguez-Planas, Núria - 2020
Using a US nationally representative sample of over 6,000 adults from 26 countries of ancestry, we find a strong association between their financial literacy in the US and the financial literacy level in their self-reported country of ancestry. More specifically, if an individual from a country...
Persistent link: https://www.econbiz.de/10012237342