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The efficiency of financial markets and their potential to produce bubbles are central topics in academic and professional debates. Yet, surprisingly little is known about the contribution of financial professionals to price efficiency. To close this gap, we run 86 experimental markets with 294...
Persistent link: https://www.econbiz.de/10011807267
The efficiency of financial markets and their potential to produce bubbles are central topics in academic and professional debates. Yet, surprisingly little is known about the contribution of financial professionals to price efficiency. To close this gap, we run 86 experimental markets with 294...
Persistent link: https://www.econbiz.de/10011879289
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This paper argues that a nuanced view of sophisticated investors, as well as sellers and structurers of financial … conformist investors, who tend to herd, and confident investors, of which contrarians are a notable subgroup, who very much do …
Persistent link: https://www.econbiz.de/10012965062