Showing 1 - 10 of 1,336
We design an experiment to study the implications of information networks for the incentive to acquire costly information, market liquidity, investors' earnings and asset price characteristics in a financial market. Social communication crowds out information production as a result of agent's...
Persistent link: https://www.econbiz.de/10015257078
The present work analyzes the individual behavior in an experimental asset market in which the only task of each player is to predict the future price of an asset. To form their expectations, players see the past realization of the asset price in the market and the current information about the...
Persistent link: https://www.econbiz.de/10015248936
We present results from an experiment with a within-subject design aimed at testing a unique prediction of expectations-based reference-dependent preferences and loss aversion in private-value second-price (Vickrey) auctions. If bidders have expectationsbased reference-dependent preferences, the...
Persistent link: https://www.econbiz.de/10015250720
We present results from an experiment with a within-subject design aimed at testing a unique prediction of expectations-based reference-dependent preferences and loss aversion in private-value second-price (Vickrey) auctions. If bidders have expectationsbased reference-dependent preferences, the...
Persistent link: https://www.econbiz.de/10015250780
We report the results of an experiment designed to study the determinants of asset price movement and consumption smoothing behavior across asset markets populated with varying proportion of traders with and without having induced motive to smooth consumption. Although the asset is over-priced...
Persistent link: https://www.econbiz.de/10015252039
We design an experiment to study the determinants of price movement and consumption smoothing behavior across asset markets populated with varying proportion of traders having induced motive to smooth consumption. The extent of over-pricing is higher when traders with no induced motive to trade...
Persistent link: https://www.econbiz.de/10015254546
This paper aims to defend the importance of the information and persuasion in financial markets. The conviction relates to the developments of Argumentation Theory (AT). Understand that economic agents react according to the information they have, and that beliefs play an important role because...
Persistent link: https://www.econbiz.de/10015220091
We generalize the "No-trade" theorem for finite unawareness belief structures in Heifetz, Meier, and Schipper (2009) to the infinite case.
Persistent link: https://www.econbiz.de/10015220343
In their recent work Thomas S. Schelling (2007, 2010), reiterating original arguments about game theory and its applications to social sciences. In particular, game theory helps to explore situations in which agents make decisions interdependent (strategic communication). Schelling's originality...
Persistent link: https://www.econbiz.de/10015221049
This paper aims to explore the relevance of the Theory of Argumentation TA in the complex area of financial reporting. Specifically, we investigated the scope of the phenomenon of persuasion in advertising. It examines advertisements in publications notable economic movement in Colombia. The...
Persistent link: https://www.econbiz.de/10015221084