We study the implications of conformism among analysts in a CARA Gaussian model of the market for a risky asset, where a trader’s information is a message sent by an analyst. Conformism increases the weight of the public information in the messages, decreasing their informativeness. More precise public information does not always result in more precise messages. A larger precision of the analys...

Advanced Traveler Information Systems (ATIS) and Advanced Traffic Management Systems (ATMS) have the potential to contribute to the solution of the traffic congestion problem. However, for these systems to be effective, the generated strategies should be proactive (i.e. based on predicted traffic conditions) as opposed to reactive, in order to avoid many undesirable effects such as overreaction...

We study the coupling of basic quantitative portfolio selection strategies with a financial news article prediction system, AZFinText. By varying the degrees of portfolio formation time, we found that a hybrid system using both quantitative strategy and a full set of financial news articles, performed the best. With a 1-week portfolio formation period we achieved a 20.79% trading return using a...

This paper analyzes the role of propaganda use in cyberterrorism. The main premise is that cyberterrorists display various semiotic gestures (e.g., the use of images and Internet videos) to communicate their intents to the public at large. In doing so, they communicate themes-these themes range from hate to anger. Cyberterrorism, then, is a form of theater or spectacle in which terrorists explo...

I develop and test the theoretical predictions that when investor overreaction to marketwide news is larger, firm valuations in the cross section become more dispersed and stocks earn lower expected returns. Consistent with these predictions, measures of cross-sectional dispersion of firm valuations are negatively related to subsequent market and portfolio excess returns, especially for sets of...

The industrialization process of a country is often plagued by a failure to coordinate investment decisions. Using the Global Games approach we can solve this coordination problem and eliminate the problem of multiple equilibria. We show how appropriate information provision enhances efficiency. We discuss extensions of the model and argue that subsidies may be a property of a signalling equili...

Abstract Metal-catalyzed alkylation of 1,1-dihalovinyl moiety commonly suffers from both a lack stereoselectivity and the overreaction leading to dialkylation product. The methodology described herein features new pathway alkylate stereoselectively β,β-dichlorostyryl substrates provide Z-trisubstituted olefin only with fair good yields. This cross-coupling reaction bears on smooth photoinduced ...

This study aims to investigate the impact of behavioral aspects (sentiment investor, overconfidence, salience, overreaction, and herd behavior) on investment decision making. The sample contained 413 individual investors—used partial least square structural equation modeling (PLS-SEM) as a data analysis technique. results showed that sentiment investors, behavior positively affect finding this ...

The purpose of this study is to examine the short-horizon stock behaviour following large monthly price changes large, liquid stocks in Indian market. event methodology used with two different methodologies and three abnormal return computational methods improve robustness reliability results. This evidences significant reversals both declines increases up six months. Further, stronger initial ...