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Understanding the Plott-Wit-Yang Paradox
Kalovcova, Katarina; Ortmann, Andreas - Center for Economic Research and Graduate Education and … - 2009
Plott, Wit & Yang (2003) conduct a betting market experiment and nd: First, information was aggregated. This suggests that traders updated their private information based on observed market odds. Second, a model based only on the use of private information seems to fit their data best. The...
Persistent link: https://www.econbiz.de/10008556903
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Information Markets: A New Way of Making Decisions, Robert W. Hahn, Paul C. Tetlock (Eds.), AEI-Brookings Joint Center for Regulatory Studies, Washington, DC (2006), xi+201 pp., $2...
Kalovcova, Katarina; Ortmann, Andreas - In: Journal of Economic Psychology 29 (2008) 1, pp. 123-125
Persistent link: https://www.econbiz.de/10005388571
Cover Image
Understanding the Plott-Wit-Yang Paradox
Kalovcova, Katarina - 2009
Plott, Wit & Yang (2003) conduct a betting market experiment and find: First, information was aggregated. This suggests that traders updated their private information based on observed market odds. Second, a model based only on the use of private information seems to fit their data best. The...
Persistent link: https://www.econbiz.de/10013153388