Salma, Zaiane; Ezzeddine, Abaoub - In: Annales Universitatis Apulensis Series Oeconomica 1 (2008) 10, pp. 41-41
It has been a challenge for financial economists to explain some stylized factsobserved in securities markets, among them, high levels of trading volume. The mostprominent explanation of excess volume is overconfidence. High market returns makeinvestors overconfident and as a consequence, these...