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This dissertation deals with the impact of speculative behaviour on output patterns of the real economy. The impact may … be twofold. Speculative behaviour occurs due to positive developments at the real economy and optimistic outlooks. Also …, speculative behaviour may occur at other markets, like the stock market. We address both, a spill-over effect and the build up of …
Persistent link: https://www.econbiz.de/10011475669
We investigate the formation of market prices in a new experimental setting involving multi-period call-auction asset markets with state-dependent fundamentals. We are particularly interested in two informational aspects: (1) the role of traders who are informed about the true state and/or (2)...
Persistent link: https://www.econbiz.de/10010353591
We investigate the formation of market prices in a new experimental setting involving multi-period call-auction asset markets with state-dependent fundamentals. We are particularly interested in two informational aspects: (1) the role of traders who are informed about the true state and/or (2)...
Persistent link: https://www.econbiz.de/10010429127
financial markets. Two different methods are used: (i) a trading robot approach to examine whether or not there is such an …
Persistent link: https://www.econbiz.de/10013051283
financial markets. Two different methods are used: (i) a trading robot approach to examine whether or not there is such an …
Persistent link: https://www.econbiz.de/10013052321
financial markets. Two different methods are used: (i) a trading robot approach to examine whether or not there is such an …
Persistent link: https://www.econbiz.de/10013032309
Persistent link: https://www.econbiz.de/10000621035
Persistent link: https://www.econbiz.de/10009579457
We study price efficiency and trading behavior in laboratory limit order markets with asymmetrically informed traders. Markets differ in the number of insiders present and in the subset of traders who receive information about the number of insiders present. We observe that price efficiency (i)...
Persistent link: https://www.econbiz.de/10009744178
We investigate the relationship between anchoring and the emergence of bubbles in experimental asset markets. We show that setting a visual anchor at the fundamental value (FV) in the first period only is sufficient to eliminate or to significantly reduce bubbles in laboratory asset markets. If...
Persistent link: https://www.econbiz.de/10010365125