Téléchargez le livre : Bubbles and Crashes in Experimental Asset Markets

Bubbles and Crashes in Experimental Asset Markets

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Éditeur :

Springer


Collection :

Lecture Notes in Economics and Mathematical Systems

Paru le : 2009-10-03

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Description
This book describes a laboratory experiment designed to test the causes and properties of bubbles in financial markets and explores the question whether it is possible to design markets which avoid such bubbles and crashes. In the experiment, subjects were given the opportunity to trade in a stock market modeled after the seminal work of Smith et al. (1988). To account for the increasing importance of online betting sites, subjects were also allowed to trade in a digital option market. The outcomes shed new light on how subjects form and update their expectations, placing special emphasis on the bounded rationality of investors. Various analytical bubble measures found in the literature are collected, calculated, classified and presented for the first time. The very interesting new bubble measures "Dispersion Ratio", "Overpriced Transactions" and "Underpriced Transactions" are developed, making the book an important step towards the research goal of preventing bubbles and crashes in financial markets.
Pages
171 pages
Collection
Lecture Notes in Economics and Mathematical Systems
Parution
2009-10-03
Marque
Springer
EAN papier
9783642021466
EAN EPUB
9783642021473
Informations sur l'ebook
Nombre pages copiables
1
Nombre pages imprimables
17
Taille du fichier
870 Ko
Prix
52,74 €

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