Get Bubbles and Crashes in Experimental Asset Markets: 626 PDF

By Stefan Palan

ISBN-10: 3642021468

ISBN-13: 9783642021466

This ebook describes a laboratory test designed to check the explanations and homes of bubbles in monetary markets and explores the query if it is attainable to layout markets which keep away from such bubbles and crashes. within the test, matters got the chance to alternate in a inventory marketplace modeled after the seminal paintings of Smith et al. (1988). To account for the expanding significance of on-line having a bet websites, topics have been additionally allowed to exchange in a electronic alternative marketplace. the results shed new mild on how matters shape and replace their expectancies, putting exact emphasis at the bounded rationality of traders. quite a few analytical bubble measures present in the literature are accrued, calculated, categorised and awarded for the 1st time. The very attention-grabbing new bubble measures "Dispersion Ratio", "Overpriced Transactions" and "Underpriced Transactions" are constructed, making the e-book an immense step in the direction of the learn aim of forestalling bubbles and crashes in monetary markets.

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Bubbles and Crashes in Experimental Asset Markets: 626 (Lecture Notes in Economics and Mathematical Systems) by Stefan Palan

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