reflected in the forecasting capabilities of professional analysts: all in all, analysts are not in a position to beat native … environment, we analyse the forecasting behaviour of students experimentally, using a simulated currency series. Our results … indicate that a topically oriented trend adjustment behaviour (TOTA) is a general characteristic of human forecasting behaviour …

forecasting future price changes, and the nature of their confidence when price changes are forecast, determine whether price …Different forecasting behaviors affect investors’ trading decisions and lead to qualitatively different asset price … significantly from the fundamental value. The rational expectations hypothesis seems inconsistent with the observed forecasts. The …