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Produce or speculate? : asset bubbles, occupational choice and efficiency
Cahuc, Pierre; Challe, Edouard - 2009
We study the macroeconomic effects of rational asset bubbles in an overlapping-generations economy where asset trading … are large, the private gains associated with trading asset bubbles may lead too many workers to become speculators …, thereby causing rational bubbles to lose their efficiency properties. Moreover, if speculation can be carried out by skilled …
Persistent link: https://www.econbiz.de/10003926432
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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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Rationalizing rational expectations? : tests and deviations
D'Haultfœuille, Xavier; Gaillac, Christophe; Maurel, Arnaud - 2018
In this paper, we build a new test of rational expectations based on the marginal distributions of realizations and subjective beliefs. This test is widely applicable, including in the common situation where realizations and beliefs are observed in two different datasets that cannot be matched....
Persistent link: https://www.econbiz.de/10011951089
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Capital prices and Eurozone competitiveness differentials
Askenazy, Philippe - 2013
beginning of the century. Germany is an exception. A large increase in the prices of buildings, structures and lands for private …
Persistent link: https://www.econbiz.de/10009715724
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To see is to believe : common expectations in experimental asset markets
Cheung, Stephen L.; Hedegaard, Morten; Palan, Stefan - 2012
is as great as when training is absent. -- asset market experiment ; price bubbles ; common knowledge of rationality …
Persistent link: https://www.econbiz.de/10009631461
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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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Forecasting errors : yet more problems for identification?
Contini, Bruno - 2009
Forecasting errors pose a serious problem of identification, often neglected in empirical applications. Any attempt of estimating choice models under uncertainty may lead to severely biased results in the presence of forecasting errors even when individual expectations on future events are...
Persistent link: https://www.econbiz.de/10003816521
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Cultural transmission and discrimination
Sáez Martí, María (contributor); Zenou, Yves (contributor) - 2005
Each worker belongs to either the majority or the minority group and, irrespective of the group she belongs to, can have good or bad work habits. These traits are transmitted from one generation to the next through a learning and imitation process which depends on parents' purposeful investment...
Persistent link: https://www.econbiz.de/10003222508
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An experimental study of the POUM hypothesis
Checchi, Daniele (contributor);  … - 2003 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001808429
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Rational inattention and employer learning
Habermalz, Steffen - 2010
learning model with the theory of rational inattention introduced by Sims (2006). In the model firms optimally allocate …
Persistent link: https://www.econbiz.de/10009300804