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What Does Matter in Economy Today : Between Rationality and Animal Spirits
Dhaoui, Abderrazak - 2011
. Using a data for five international capital markets in developed countries we find that the hypothesis of rationality losses …
Persistent link: https://www.econbiz.de/10013118228
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Rational or Irrational? A Comprehensive Studies on Stock Market Crashes
Ma, Tai - 2017
This study attempts to illustrate the contributing factors for different patterns of crashes. In addition to the fundamental macro-economic factors, this paper argues that the existence of herding behavior as well as the level of investor attention are also important factors affecting the...
Persistent link: https://www.econbiz.de/10012953849
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Note on Rationality
Calandro, Jr., Joseph - 2017
“Rationality” is a term that comes up often during investment conversations, and yet it has not been definitively … defined. For example, economists and investors each use and define the term rationality differently. The objective of this … note is to profile three general definitions of the term “rationality,” and then to demonstrate how one of these …
Persistent link: https://www.econbiz.de/10012955676
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Affective Utilities : A Rational Theory of Optimistic Bias in Asset Markets
Bracha, Anat - 2014
The equilibrium prices in asset markets, as stated by Keynes (1930): "...will be fixed at the point at which the sales of the bears and the purchases of the bulls are balanced." We propose a descriptive theory of finance explicating Keynes' claim that the prices of assets today equilibrate the...
Persistent link: https://www.econbiz.de/10013051869
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The Index Fund Rationality Paradox and Categorical Thinking
Tarassov, Evgeni - 2018
index fund rationality paradox. The experiment, conducted among first generation High Net Worth Individuals (HNWI) and …
Persistent link: https://www.econbiz.de/10012935006
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Rationalizing Investors Choice
Bernard, Carole - 2015
Assuming that agents' preferences satisfy first-order stochastic dominance, we show how the Expected Utility paradigm can rationalize all optimal investment choices: the optimal investment strategy in any behavioral law-invariant (state-independent) setting corresponds to the optimum for an...
Persistent link: https://www.econbiz.de/10013034282
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Testing Individual Rationalism under Repeated Environment
Sahewala, Varun; Gautam, Sarthak; Singla, Saksham; … - 2022
The paper studies the behavior of individuals in situations of probabilistic uncertainty, wherein randomness is simulated to promote rational decision-making. Behavioral heuristics like Mean Reversion, Mental Accounting, Ambiguity, and Overconfidence were observed even in situations of...
Persistent link: https://www.econbiz.de/10013403220
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Veblen's institutionalist elaboration of rent theory
Hudson, Michael - 2012
As the heirs to classical political economy and the German historical school, the American institutionalists retained rent theory and its corollary idea of unearned income. More than any other institutionalist, Thorstein Veblen emphasized the dynamics of banks financing real estate speculation...
Persistent link: https://www.econbiz.de/10009573010
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Forecasting the term structure of crude oil futures prices with neural networks
Baruník, Jozef; Malinská, Barbora - 2015
The paper contributes to the rare literature modeling term structure of crude oil markets. We explain term structure of crude oil prices using dynamic Nelson-Siegel model, and propose to forecast them with the generalized regression framework based on neural networks. The newly proposed...
Persistent link: https://www.econbiz.de/10011378719
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Be patient when measuring Hyperbolic Discounting : stationarity, time consistency and time invariance in a field experiment
Janssens, Wendy; Kramer, Berber; Swart, Lisette - 2015
Most evidence of hyperbolic discounting is based on violations of either stationarity or time consistency as observed in choice experiments. These choice reversals may however also result from time-varying discount rates. Hyperbolic discounting is a plausible explanation for choice reversals...
Persistent link: https://www.econbiz.de/10011307819