LEADER 05405nam 2200649 a 450 001 9910830684603321 005 20170809164650.0 010 $a1-119-20900-5 010 $a1-280-83949-X 010 $a9786610839490 010 $a0-470-51033-1 035 $a(CKB)1000000000357067 035 $a(EBL)291011 035 $a(OCoLC)316059721 035 $a(SSID)ssj0000240002 035 $a(PQKBManifestationID)11220912 035 $a(PQKBTitleCode)TC0000240002 035 $a(PQKBWorkID)10251558 035 $a(PQKB)10461575 035 $a(MiAaPQ)EBC291011 035 $a(PPN)156846152 035 $a(EXLCZ)991000000000357067 100 $a20061005d2007 uy 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aRumors in financial markets$b[electronic resource] $einsights into behavioral finance /$fMark Schindler 210 $aChichester, England ;$aHoboken, NJ $cJohn Wiley & Sons Inc.$dc2007 215 $a1 online resource (209 p.) 225 1 $aWiley finance 300 $aDescription based upon print version of record. 311 $a0-470-03196-4 320 $aIncludes bibliographical references (p. [169]-189) and index. 327 $aRumors in Financial Markets; Contents; List of Symbols; Preface; 1 Introduction; 1.1 Objectives of this book; 1.2 Structure of this book; 1.3 Research methodology; 2 Definitions and Characteristics of Rumors; 2.1 Definitions; 2.1.1 Structure of the categories, news, information and rumor; 2.1.2 Rumors versus gossip; 2.1.3 Summary of rumor characteristics; 2.2 Historical background to studies on rumors; 3 Rumors and the Theory of Finance; 3.1 Rumors and Behavioral Finance; 3.1.1 Theoretical excursion: A formal definition of the value of information 327 $a3.1.2 The relationship between the value of information and efficient markets3.1.3 The criticisms of Behavioral Finance; 3.1.4 The link between rumors and Behavioral Finance; 3.1.5 Financial markets as a fruitful ground for rumors; 3.1.6 Six types of rumors; 3.1.7 Classification of rumors in financial markets; 3.2 Rumors and rational behavior; 3.2.1 Rationality in the classical Theory of Finance; 3.2.2 Bounded rationality; 3.2.3 Procedural rationality; 3.2.4 An action is always rational; 3.2.5 Rationality in financial markets; 3.3 Empirical studies of rumors in the stock market 327 $a3.4 Review of models on rumors3.5 Ethnographical studies; 4 Legal Aspects of Rumors in Financial Markets; 4.1 Rumors in financial markets and insider trading; 4.1.1 Introduction; 4.1.2 Review of scientific literature on insider trading; 4.2 Review of models on insider trading; 4.2.1 Models of insider trading regulation; 4.2.2 Models of trading by registered insiders; 4.3 Rumors in financial markets and price manipulation; 4.4 Review of models on market manipulation; 5 Survey of Rumors in Financial Markets; 5.1 The survey and its intention; 5.2 Participant profile; 5.2.1 Survey parameters 327 $a5.2.2 Survey participants5.3 Development of rumors; 5.3.1 How rumors start and why; 5.3.2 Correlation between market volatility and frequency of rumors; 5.3.3 What is the source?; 5.3.4 First actions on a rumor; 5.3.5 Action on specific versus general rumors; 5.4 Spreading of rumors; 5.4.1 To spread or not to spread?; 5.4.2 First or last in the row?; 5.4.3 Spreading time: How long it takes; 5.5 Belief in rumors; 5.5.1 Why rumors are believed; 5.5.2 Does it matter what you believe?; 5.6 Network formation; 5.7 Trading on rumors; 5.7.1 Systematic price patterns?; 5.7.2 Rumor sources and profits 327 $a5.7.3 Thoughts triggered by the price movement5.7.4 Actions triggered by the price movement; 5.8 Rumors versus information; 5.8.1 Trading on rumors versus trading on information; 5.8.2 The difference between a rumor and information; 5.9 Conclusions from the survey; 5.9.1 Rumors follow logical rules; 5.9.2 Prices reflect beliefs; 5.9.3 Investment strategies on rumors; 5.9.4 Relating the results to other studies; 6 Rumor Experiments; 6.1 Why use experiments as a research methodology?; 6.2 Methodological pre-considerations; 6.2.1 Internal versus external validity; 6.2.2 Selection of participants 327 $a6.2.3 Payment of participants 330 $aOn the trading floor, all action is based on news, therefore rumors in financial markets are an everyday phenomenon. Rumors are the oldest mass medium in the world and their nature is still difficult to grasp. Scientifically, not much is known about rumors, especially in the financial markets, where their consequences can have real money consequences. Rumors in Financial Markets provides a fresh insight to the topic, combining the theory of Behavioral Finance with that of Experimental Finance--a new and innovative scientific method which observes real decision makers in a controlled, clearly s 410 0$aWiley finance series. 606 $aInvestments$xPsychological aspects 606 $aInvestments$xDecision making 615 0$aInvestments$xPsychological aspects. 615 0$aInvestments$xDecision making. 676 $a332 676 $a332.6019 700 $aSchindler$b Mark$01604366 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910830684603321 996 $aRumors in financial markets$93929162 997 $aUNINA