Bubbles and Experience: An Experiment
نویسندگان
چکیده
منابع مشابه
Bubbles and Experience: An Experiment
History contains many colorful examples where speculative trade in some commodity or financial asset generated a phase of rapidly increasing prices, followed by a sudden collapse (see, e.g., Edward Chancellor, 1999, or Charles Kindleberger, 2001). One famous case cited by many economists (see Peter Garber, 2000, pp. 127–31, for references) is the Dutch “tulipmania” of the 1630s. The prices of c...
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We study whether information about imminent future dividends can abate bubbles in experimental asset markets. Using the seminal design of Smith et al. (1988) we find that markets where traders are asymmetrically informed about future dividends have smaller, and shorter, bubbles than markets with symmetrically informed or uninformed traders. Hence, fundamental values are better reflected in mark...
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In this experiment, we create an online search environment where users can control topical search and popularity considerations separately. Users explore the TED Talks collection in our simplified environment, and choose a talk to watch. Users’ clickstreams are recorded, such that their complete search sequence and subsequent choice are fully accounted for. We are interested in whether there ar...
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ژورنال
عنوان ژورنال: American Economic Review
سال: 2005
ISSN: 0002-8282
DOI: 10.1257/000282805775014362