Bubbles and Crashes in Experimental Asset Markets: 626 by Stefan Palan

By Stefan Palan

This e-book describes a laboratory scan designed to check the factors and homes of bubbles in monetary markets and explores the query if it is attainable to layout markets which stay away from such bubbles and crashes. within the scan, matters got the chance to exchange in a inventory marketplace modeled after the seminal paintings of Smith et al. (1988). To account for the expanding value of on-line making 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 specific emphasis at the bounded rationality of traders. numerous analytical bubble measures present in the literature are gathered, 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 publication a tremendous step in the direction of the learn target of forestalling bubbles and crashes in monetary markets.

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