(A)symmetric information bubbles: Experimental evidence

研究成果: Article

抜粋

Asymmetric information has explained the existence of a bubble in extant theoretical models. This study experimentally analyzes traders’ choices with and without asymmetric information based on the riding-bubble model. We show that traders tend to hold a bubble asset for longer, thereby expanding the bubble in a market with symmetric, rather than asymmetric, information. However, when traders are more experienced, the size of the bubble decreases, in which case bubbles do not arise with symmetric information. By contrast, the size of the bubble is stable in a market with asymmetric information.

元の言語English
記事番号103744
ジャーナルJournal of Economic Dynamics and Control
DOI
出版物ステータスAccepted/In press - 2019 1 1

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ASJC Scopus subject areas

  • Economics and Econometrics
  • Control and Optimization
  • Applied Mathematics

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