Noise Trading in a Laboratory Financial Market: A Maximum Likelihood Approach
نویسندگان
چکیده
منابع مشابه
Noise Trading in a Laboratory Financial Market: A Maximum Likelihood Approach
We study the extent to which, in a laboratory nancial market, noise trading can stem from subjects irrationality. We estimate a structural model of sequential trading by using experimental data. In the experiment, subjects receive private information on the value of an asset and trade it in sequence with a market maker. We nd that, in the laboratory, the noise due to the irrational use of pr...
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ژورنال
عنوان ژورنال: Journal of the European Economic Association
سال: 2005
ISSN: 1542-4766,1542-4774
DOI: 10.1162/jeea.2005.3.2-3.315