Narrow search
Showing 1 - 10 of 14,985
Cover Image
Bubbles, crashes and information contagion in large-group asset market experiments
Hommes, Cars H.; Kopányi-Peuker, Anita; Sonnemans, Joep - 2019
We experimentally investigate how price expectations are formed in a large asset market where subjects' only task is to forecast the future price of a risky asset. The realized prices depend on these expectations. We observe small (6 participants) and large markets (about 100 participants). In...
Persistent link: https://www.econbiz.de/10011979625
Cover Image
Herd behavior and mood : an experimental study on the forecasting of share prices
Filiz, Ibrahim; Nahmer, Thomas; Spiwoks, Markus - 2019
Persistent link: https://www.econbiz.de/10011979397
Cover Image
Bubbles, Crashes and Information Contagion in Large-Group Asset Market Experiments
Hommes, Cars H. - 2019
We study the emergence of bubbles in a laboratory experiment with large groups of individuals. The realized price is …
Persistent link: https://www.econbiz.de/10012892070
Cover Image
Why a simple herding model may generate the stylized facts of daily returns : explanation and estimation
Franke, Reiner; Westerhoff, Frank H. - 2011
and chartists, comprises four features: (i) price determination by excess demand; (ii) a herding mechanism that gives rise …
Persistent link: https://www.econbiz.de/10009424773
Cover Image
Market entry waves and volatility outbursts in stock markets
Blaurock, Ivonne; Schmitt, Noemi; Westerhoff, Frank H. - 2017
herding behavior and market risk. Moreover, speculators' orders depend on price trends, market misalignments and fundamental … news. Using a mix of analytical and numerical tools, we show that a herding-induced market entry wave may amplify excess …
Persistent link: https://www.econbiz.de/10011702006
Cover Image
Boom-bust cycles and asset market participation waves : momentum, value, risk and herding
Dieci, Roberto; Schmitt, Noemi; Westerhoff, Frank H. - 2022
We develop an asset market participation model in which investors base their market entry decisions on the momentum, value and risk of the market. Despite our behavioral framework, the model’s fundamental steady state is characterized by standard present-value relations between expected future...
Persistent link: https://www.econbiz.de/10013201794
Cover Image
Asset Pricing : Herding vs. Individual Social Interaction
König, Frederik - 2010
The existence of influence among participants on financial markets is affirmed by the theory of behavioural finance … influence, namely herding and individual social interaction. Herding behaviour is well known and has already been intensively … herding is dominant, the influence from individual social interaction plays a considerable role for the aggregated outcome of …
Persistent link: https://www.econbiz.de/10013137950
Cover Image
Trading while sleepy? : circadian mismatch and excess volatility in a global experimental asset market
Dickinson, David L.; Chaudhuri, Ananish; … - 2017
experiment that regularly produces valuation bubble and crash events. Global sessions involved real time trades between subjects …
Persistent link: https://www.econbiz.de/10011731909
Cover Image
Mental models of the stock market
Andre, Peter; Schirmer, Philipp; Wohlfart, Johannes - 2023
Investors' return expectations are pivotal in stock markets, but the reasoning behind these expectations remains a black box for economists. This paper sheds light on economic agents' mental models - their subjective understanding - of the stock market, drawing on surveys with the US general...
Persistent link: https://www.econbiz.de/10014383579
Cover Image
Mental models of the stock market
Andre, Peter; Schirmer, Philipp; Wohlfart, Johannes - 2023
Investors' return expectations are pivotal in stock markets, but the reasoning behind these expectations remains a black box for economists. This paper sheds light on economic agents' mental models - their subjective understanding - of the stock market, drawing on surveys with the US general...
Persistent link: https://www.econbiz.de/10014416010