Published October 1991
| Published
Journal Article
Open
Information Mirages in Experimental Asset Markets
- Creators
-
Camerer, Colin
- Weigelt, Keith
Abstract
We investigate behavior in laboratory asset markets in which traders are sometimes informed of asset values. We test whether traders overreact to uninformative trades, mistakenly inferring in-formation from them. The existence of price "mirages," caused by such mistakes, might ex-plain why asset prices seem to be excessively volatile.
Additional Information
© 1991 University of Chicago. The financial support of the Richard Paget Research Chair at Northwestern University's Kellogg Graduate School of Management and the New York University's Center for Entrepreneurial Studies are gratefully acknowledged. Helpful comments have been received from some anonymous referees, Jon Baron, Jim Jordan, David Kreps, Howard Kunreuther, Charles Plott, Shyam Sunder, and seminar audiences at New York University, University of Minnesota, University of Pennsylvania, and the Public Choice Society. Marcy Lynch and James Myers are also acknowledged for their re-search assistance.Attached Files
Published - 2353290_1_.pdf
Files
2353290_1_.pdf
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Additional details
- Eprint ID
- 22146
- Resolver ID
- CaltechAUTHORS:20110211-135441124
- Northwestern University Kellogg Graduate School of Management
- New York University Center for Entrepreneurial Studies
- Created
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2011-03-10Created from EPrint's datestamp field
- Updated
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2019-10-03Created from EPrint's last_modified field