Herd behavior in financial markets : an experiment with financial market professionals / / Marco Cipriani and Antonio Guarino |
Autore | Cipriani Marco |
Pubbl/distr/stampa | [Washington, District of Columbia] : , : International Monetary Fund, , 2008 |
Descrizione fisica | 1 online resource (30 p.) |
Disciplina | 330.12 |
Altri autori (Persone) | GuarinoAntonio |
Collana |
IMF Working Papers
IMF working paper |
Soggetto topico |
Capitalists and financiers - Psychology - Econometric models
Investments - Decision making - Econometric models Collective behavior - Econometric models |
Soggetto genere / forma | Electronic books. |
ISBN |
1-4623-1443-0
1-4527-4000-3 1-282-84092-4 1-4518-6999-1 9786612840920 |
Formato | Materiale a stampa ![]() |
Livello bibliografico | Monografia |
Lingua di pubblicazione | eng |
Nota di contenuto |
Contents; I. Introduction; A. Literature Review; II. The Theoreticalmodel; A. The model structure; B. Theoretical predictions; Figures; 1. Prices and Traders' Expectations after a History of Buys; III. The Experiment and the Experimental Design; A. The experiment; B. Experimental design: the two treatments; 2. Prices and Traders' Expectations after a History of Sells; 3. Prices and Traders' Expectations after a Sell Followed by a History of Buys; IV. Results: Rationality, Herding and Contrarian Behavior; A. Treatment I; Tables; 1. Average behavior in Treatment I
2. Cascade trading behavior in Treatment IB. Treatment II; 3. No trade in Treatment I; 4. Average behavior in Treatment II; V. Comparison with Previous Experimental Results; 5. Cascade trading behavior in Treatment II; 6. No trade in Treatment II; VI. Individual Behavior; 7. Percentage of decisions in accordance with the theoretical prediction at individual level.; VII. Conclusions; 8. Regressions of the level of rationality in the experiment on individual characteristics. P-values in parenthesis 9. Regression of subjects' payoff at the end of the experiment on individual characteristics. P-values in parenthesis10. Regressions of participants' proportion of herding, contrarianism and no trading on the trader's dummy. Herd 1 and Contrarian 1 refer to Treatment I. Herd 2 and Contrarian 2 refer to Treatment II. P-values in parenthesis; References |
Record Nr. | UNINA-9910463601903321 |
Cipriani Marco
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[Washington, District of Columbia] : , : International Monetary Fund, , 2008 | ||
![]() | ||
Lo trovi qui: Univ. Federico II | ||
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Herd Behavior in Financial Markets : : An Experiment with Financial Market Professionals / / Marco Cipriani, Antonio Guarino |
Autore | Cipriani Marco |
Pubbl/distr/stampa | Washington, D.C. : , : International Monetary Fund, , 2008 |
Descrizione fisica | 1 online resource (30 p.) |
Disciplina | 330.12 |
Altri autori (Persone) | GuarinoAntonio |
Collana |
IMF Working Papers
IMF working paper |
Soggetto topico |
Capitalists and financiers - Psychology - Econometric models
Investments - Decision making - Econometric models Collective behavior - Econometric models Exports and Imports Finance: General Financial Risk Management Gender Studies Empirical Studies of Trade International Financial Markets Education: General Economics of Gender Non-labor Discrimination General Financial Markets: General (includes Measurement and Data) International economics Finance Education Gender studies, gender groups Trade balance Asset valuation Gender Securities markets Balance of trade Asset-liability management Sex role Capital market |
ISBN |
1-4623-1443-0
1-4527-4000-3 1-282-84092-4 1-4518-6999-1 9786612840920 |
Formato | Materiale a stampa ![]() |
Livello bibliografico | Monografia |
Lingua di pubblicazione | eng |
Nota di contenuto |
Contents; I. Introduction; A. Literature Review; II. The Theoreticalmodel; A. The model structure; B. Theoretical predictions; Figures; 1. Prices and Traders' Expectations after a History of Buys; III. The Experiment and the Experimental Design; A. The experiment; B. Experimental design: the two treatments; 2. Prices and Traders' Expectations after a History of Sells; 3. Prices and Traders' Expectations after a Sell Followed by a History of Buys; IV. Results: Rationality, Herding and Contrarian Behavior; A. Treatment I; Tables; 1. Average behavior in Treatment I
2. Cascade trading behavior in Treatment IB. Treatment II; 3. No trade in Treatment I; 4. Average behavior in Treatment II; V. Comparison with Previous Experimental Results; 5. Cascade trading behavior in Treatment II; 6. No trade in Treatment II; VI. Individual Behavior; 7. Percentage of decisions in accordance with the theoretical prediction at individual level.; VII. Conclusions; 8. Regressions of the level of rationality in the experiment on individual characteristics. P-values in parenthesis 9. Regression of subjects' payoff at the end of the experiment on individual characteristics. P-values in parenthesis10. Regressions of participants' proportion of herding, contrarianism and no trading on the trader's dummy. Herd 1 and Contrarian 1 refer to Treatment I. Herd 2 and Contrarian 2 refer to Treatment II. P-values in parenthesis; References |
Record Nr. | UNINA-9910788236303321 |
Cipriani Marco
![]() |
||
Washington, D.C. : , : International Monetary Fund, , 2008 | ||
![]() | ||
Lo trovi qui: Univ. Federico II | ||
|
Herd Behavior in Financial Markets : : An Experiment with Financial Market Professionals / / Marco Cipriani, Antonio Guarino |
Autore | Cipriani Marco |
Edizione | [1st ed.] |
Pubbl/distr/stampa | Washington, D.C. : , : International Monetary Fund, , 2008 |
Descrizione fisica | 1 online resource (30 p.) |
Disciplina | 330.12 |
Altri autori (Persone) | GuarinoAntonio |
Collana |
IMF Working Papers
IMF working paper |
Soggetto topico |
Capitalists and financiers - Psychology - Econometric models
Investments - Decision making - Econometric models Collective behavior - Econometric models Exports and Imports Finance: General Financial Risk Management Gender Studies Empirical Studies of Trade International Financial Markets Education: General Economics of Gender Non-labor Discrimination General Financial Markets: General (includes Measurement and Data) International economics Finance Education Gender studies, gender groups Trade balance Asset valuation Gender Securities markets Balance of trade Asset-liability management Sex role Capital market |
ISBN |
1-4623-1443-0
1-4527-4000-3 1-282-84092-4 1-4518-6999-1 9786612840920 |
Formato | Materiale a stampa ![]() |
Livello bibliografico | Monografia |
Lingua di pubblicazione | eng |
Nota di contenuto |
Contents; I. Introduction; A. Literature Review; II. The Theoreticalmodel; A. The model structure; B. Theoretical predictions; Figures; 1. Prices and Traders' Expectations after a History of Buys; III. The Experiment and the Experimental Design; A. The experiment; B. Experimental design: the two treatments; 2. Prices and Traders' Expectations after a History of Sells; 3. Prices and Traders' Expectations after a Sell Followed by a History of Buys; IV. Results: Rationality, Herding and Contrarian Behavior; A. Treatment I; Tables; 1. Average behavior in Treatment I
2. Cascade trading behavior in Treatment IB. Treatment II; 3. No trade in Treatment I; 4. Average behavior in Treatment II; V. Comparison with Previous Experimental Results; 5. Cascade trading behavior in Treatment II; 6. No trade in Treatment II; VI. Individual Behavior; 7. Percentage of decisions in accordance with the theoretical prediction at individual level.; VII. Conclusions; 8. Regressions of the level of rationality in the experiment on individual characteristics. P-values in parenthesis 9. Regression of subjects' payoff at the end of the experiment on individual characteristics. P-values in parenthesis10. Regressions of participants' proportion of herding, contrarianism and no trading on the trader's dummy. Herd 1 and Contrarian 1 refer to Treatment I. Herd 2 and Contrarian 2 refer to Treatment II. P-values in parenthesis; References |
Record Nr. | UNINA-9910812625103321 |
Cipriani Marco
![]() |
||
Washington, D.C. : , : International Monetary Fund, , 2008 | ||
![]() | ||
Lo trovi qui: Univ. Federico II | ||
|