“Rational” or “Intuitive”: Are Behavioral Biases Correlated Across Stock Market Investors?
نویسندگان
چکیده
منابع مشابه
Institutional Investors and Stock Market
We present a theory of excess stock market volatility, in which market movements are due to trades by very large institutional investors in relatively illiquid markets. Such trades generate significant spikes in returns and volume, even in the absence of important news about fundamentals. We derive the optimal trading behavior of these investors, which allows us to provide a unified explanation...
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ژورنال
عنوان ژورنال: Contemporary Economics
سال: 2013
ISSN: 2084-0845
DOI: 10.5709/ce.1897-9254.81