Susan Pulham und Michael Deeken analysieren die Rationalität und mit ihr verbundene Einschränkungen am Beispiel von (privaten) Anlegern. Die AutorInnen geben zuerst einen Überblick über verschiedene Rationalitätsverständnisse in der soziologischen und wirtschaftswissenschaftlichen...

The efficiency of financial markets and their potential to produce bubbles are central topics in academic and professional debates. Yet, surprisingly little is known about the contribution of financial professionals to price efficiency. To close this gap, we run 86 experimental markets with 294...

The efficiency of financial markets and their potential to produce bubbles are central topics in academic and professional debates. Yet, surprisingly little is known about the contribution of financial professionals to price efficiency. To close this gap, we run 86 experimental markets with 294...

In this paper, we propose a two-market empirical model with heterogeneous agents based on Chiarella et al. (2012). Using monthly data of French and US stock markets, the regression shows that individual markets have feature of two-regime switching process. By including inter-market traders whose...