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Speculation in Standard Auctions with Resale
Garratt, Rod; Tröger, Thomas - 2005
In standard auctions with symmetric, independent private value bidders resale creates a role for a speculator - a bidder who is commonly known to have no use value for the good on sale. For second-price and English auctions the efficient value-bidding equilibrium coexists with a continuum of...
Persistent link: https://www.econbiz.de/10010263133
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Bubbles and Experience: An Experiment on Speculation
Dufwenberg, Martin; Lindqvist, Tobias; Moore, Evan - 2003
We investigate experimentally how the share of experienced traders in double-auction asset markets affects trading, in particular the occurrence of bubble-crash pricing patterns. In each session, six subjects trade in three successive market rounds and gain experience. In a fourth round,...
Persistent link: https://www.econbiz.de/10010320151
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Produktdiversifikation und Profitabilität der deutschen Ernährungswirtschaft: Eine theoretische und empirische Betrachtung.
Wittkopp, Antje; Körner, Julia - 2001
have a positive influence on the profitability of firms. This study examines the effect of product diversification on the … profitability of 25 German food industry sectors from 1977 to 1994. The analysis reveals a positive effect of diversification on the … profitability of industries. …
Persistent link: https://www.econbiz.de/10010297120
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Barriers to Entry and Profitability
Heger, Diana; Kraft, Kornelius - 2008
if they are not. We present empirical evidence on effects of perceived threat of entry on profitability. Using … profitability is confirmed. The number and the relative size of competitors also exert considerable effects. We find no …
Persistent link: https://www.econbiz.de/10010298648
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Intellectual capital and productivity: Identification and measurement of the relationship at company-level
Lönnqvist, Antti - 2007
A company’s intellectual capital consists of a set of various non-physical sources of value, such as employee competencies, stakeholder relationships and patents. This paper examines the relationship between intellectual capital and productivity at company-level. It is based on a conceptual...
Persistent link: https://www.econbiz.de/10010285125
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Aggregate Trading Behavior of Technical Models and the Yen/Dollar Exchange Rate
Schulmeister, Stephan - 2007
The study analyses the interaction between the trading behaviour of 1,024 moving average and momentum models and the fluctuations of the yen/dollar exchange rate. The paper shows first that these models would have exploited exchange rate trends quite profitably between 1976 and 1999, and then...
Persistent link: https://www.econbiz.de/10011435219
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Performance of Technical Trading Systems in the Yen/Dollar Market
Schulmeister, Stephan - 2007
The study investigates the profitability of 1,024 moving average and momentum models and their components in the yen …/dollar market. It turns out that all models would have been profitable between 1976 and 1999. The pattern of profitability is as … higher than the size of single losses. Hence, the profitability of technical currency trading is exclusively due to the …
Persistent link: https://www.econbiz.de/10011435222
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Profitability of Technical Currency Speculation. The Case of Yen-Dollar Trading 1976-2007
Schulmeister, Stephan - 2008
The paper investigates the profitability of 1,024 moving average and momentum models and their components in the yen … losses because profitable positions last two to six times longer than unprofitable positions. Hence, the profitability of … most cases significantly profitable also ex ante. However, the profitability of technical currency trading based on daily …
Persistent link: https://www.econbiz.de/10011435249
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Aggregate Trading Behaviour of Technical Models and the Yen-Dollar Exchange Rate 1976-2007
Schulmeister, Stephan - 2008
The study analyses the interaction between the trading behaviour of 1,024 moving average and momentum models and the fluctuations of the yen-dollar exchange rate. I show first that these models would have exploited exchange rate trends quite profitably between 1976 and 2007. I then show that the...
Persistent link: https://www.econbiz.de/10011435250
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Herding, Information Cascades and Volatility Spillovers in Futures Markets
McAleer, Michael; Radalj, Kim - 2013
Economists and financial analysts have begun to recognise the importance of the actions of other agents in the decision-making process. Herding is the deliberate mimicking of the decisions of other agents. Examples of mimicry range from the choice of restaurant, fashion and financial market...
Persistent link: https://www.econbiz.de/10010326188