Stefan Palan's Bubbles and Crashes in Experimental Asset Markets: 626 PDF

By Stefan Palan

This e-book describes a laboratory scan designed to check the reasons and houses of bubbles in monetary markets and explores the query if it is attainable to layout markets which steer clear of such bubbles and crashes. within the test, topics got the chance to alternate in a inventory marketplace modeled after the seminal paintings of Smith et al. (1988). To account for the expanding significance of on-line making a bet websites, topics have been additionally allowed to alternate in a electronic choice marketplace. the results shed new gentle on how topics shape and replace their expectancies, putting specific emphasis at the bounded rationality of traders. numerous analytical bubble measures present in the literature are gathered, calculated, categorized and awarded for the 1st time. The very attention-grabbing new bubble measures "Dispersion Ratio", "Overpriced Transactions" and "Underpriced Transactions" are built, making the booklet a massive step in the direction of the examine objective of stopping bubbles and crashes in monetary markets.

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Bubbles and Crashes in Experimental Asset Markets: 626 (Lecture Notes in Economics and Mathematical Systems) by Stefan Palan

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