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A contrast effect occurs when the value of a previously-observed signal inversely biases perception of the next signal. We present the first evidence that contrast effects can distort prices in sophisticated and liquid markets. Investors mistakenly perceive earnings news today as more impressive...
Persistent link: https://www.econbiz.de/10012946508
Persistent link: https://www.econbiz.de/10009679967
Persistent link: https://www.econbiz.de/10011745864
A contrast effect occurs when the value of a previously-observed signal inversely biases perception of the next signal. We present the first evidence that contrast effects can distort prices in sophisticated and liquid markets. Investors mistakenly perceive earnings news today as more impressive...
Persistent link: https://www.econbiz.de/10012453830
A contrast effect occurs when the value of a previously-observed signal inversely biases perception of the next signal. We present the first evidence that contrast effects can distort prices in sophisticated and liquid markets. Investors mistakenly perceive earnings news today as more impressive...
Persistent link: https://www.econbiz.de/10012937236