Huang, Dong; Goetzmann, William N. - National Bureau of Economic Research - 2023
Using transaction data from a large non-fungible token (NFT) trading platform, this paper examines how the behavioral … NFT bubble. We show that the price-volume relationship is consistent with extrapolative beliefs about increasing prices … NFTs declined, observed NFT prices were subject to severe selection bias due in part to seller loss aversion delaying the …