Reference : Heterogeneity of beliefs in experimental asset markets revisited
Scientific congresses, symposiums and conference proceedings : Unpublished conference
Business & economic sciences : Finance
http://hdl.handle.net/10993/37918
Heterogeneity of beliefs in experimental asset markets revisited
English
Neugebauer, Tibor mailto [University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Luxembourg School of Finance (LSF) >]
28-Nov-2018
No
Yes
International
Seminar
28-11-2018
UJI Castellon, Spain
[en] Expectation formation ; heterogeneous beliefs ; asset market experiment
[en] We study the question if we can recover original traders’ price expectations in experimental asset markets if subjects receive the same pre-recorded information. Our results show reliable recovery of original traders’ median expectations across treatments. Treatment comparison suggests no effect on beliefs of subjects’ action space, whether subjects trade, act as price takers or only observe the market. Our results also suggest that we are unable to recover the individual expectations beyond the median expectation. Hence, we confirm the advanced observation of the experimental literature that expectations are heterogeneous and markets do not homogenize beliefs.
http://hdl.handle.net/10993/37918

There is no file associated with this reference.

Bookmark and Share SFX Query

All documents in ORBilu are protected by a user license.