Item Details

Price Bubbles, Gender, and Expectations in Experimental Asset Markets Holt Porzio Song Data

Holt, Charles
Format
Article
Author
Holt, Charles
Contributor
Holt, Charles
Abstract
Price Bubbles, Gender, and Expectations in Experimental Asset Markets European Economic Review 2017 Charles A. Holt, Megan Porzio, and Michelle Yingze Song This paper reports results of laboratory markets for a risky asset with a “flat” fundamental value that equates expected dividends to the return on a safe asset. Subjects were sorted by gender in an unobtrusive manner, and bubbles in this setting are pervasive and of comparable magnitude for both genders. In contrast, a robustness check done with a declining fundamental value did generate larger bubbles for groups of males. Elicited price forecasts tend to trail share prices as they rise and exceed prices as they fall, a pattern that is tracked by a “double adaptive” forecasting model.
Language
English
Published
University of Virginia, 2019
Published Date
2019-08-19
Collection
Libra Open Repository
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