dc.contributor.author | Hommes, Cars | de |
dc.contributor.author | Sonnemans, Joep | de |
dc.contributor.author | Tuinstra, Jan | de |
dc.contributor.author | Velden, Henk van de | de |
dc.date.accessioned | 2011-06-07T02:43:00Z | de |
dc.date.accessioned | 2012-08-29T23:08:11Z | |
dc.date.available | 2012-08-29T23:08:11Z | |
dc.date.issued | 2008 | de |
dc.identifier.uri | http://www.ssoar.info/ssoar/handle/document/25382 | |
dc.description.abstract | We present results on expectation formation in a controlled experimental environment. In each period subjects are asked to predict the next price of a risky asset. The realized market price is derived from an unknown market equilibrium equation with feedback from individual forecasts. In most experiments prices deviate from the benchmark fundamental and bubbles emerge endogenously. These bubbles are inconsistent with rational expectations and seem to be driven by trend chasing behavior or “positive feedback expectations” of the participants. We also analyze individual predictions of participants and find that participants within a group tend to coordinate on a common prediction strategy. | en |
dc.language | en | de |
dc.subject.ddc | Wirtschaft | de |
dc.subject.ddc | Economics | en |
dc.subject.other | Experimental economics; Expectations; Asset pricing; Speculative bubbles | |
dc.title | Expectations and Bubbles in Asset Pricing Experiments | en |
dc.description.review | begutachtet (peer reviewed) | de |
dc.description.review | peer reviewed | en |
dc.source.journal | Journal of Economic Behavior & Organization | de |
dc.source.volume | 67 | de |
dc.publisher.country | GBR | |
dc.source.issue | 1 | de |
dc.subject.classoz | Economic Statistics, Econometrics, Business Informatics | en |
dc.subject.classoz | National Economy | en |
dc.subject.classoz | Wirtschaftsstatistik, Ökonometrie, Wirtschaftsinformatik | de |
dc.subject.classoz | Volkswirtschaftstheorie | de |
dc.identifier.urn | urn:nbn:de:0168-ssoar-253825 | de |
dc.date.modified | 2011-06-10T16:34:00Z | de |
dc.rights.licence | PEER Licence Agreement (applicable only to documents from PEER project) | de |
dc.rights.licence | PEER Licence Agreement (applicable only to documents from PEER project) | en |
ssoar.gesis.collection | SOLIS;ADIS | de |
ssoar.contributor.institution | http://www.peerproject.eu/ | de |
internal.status | 3 | de |
dc.type.stock | article | de |
dc.type.document | journal article | en |
dc.type.document | Zeitschriftenartikel | de |
dc.rights.copyright | f | de |
dc.source.pageinfo | 116-133 | |
internal.identifier.classoz | 1090301 | |
internal.identifier.classoz | 10905 | |
internal.identifier.journal | 196 | de |
internal.identifier.document | 32 | |
internal.identifier.ddc | 330 | |
dc.identifier.doi | https://doi.org/10.1016/j.jebo.2007.06.006 | de |
dc.description.pubstatus | Postprint | en |
dc.description.pubstatus | Postprint | de |
internal.identifier.licence | 7 | |
internal.identifier.pubstatus | 2 | |
internal.identifier.review | 1 | |
internal.check.abstractlanguageharmonizer | CERTAIN | |
internal.check.languageharmonizer | CERTAIN_RETAINED | |