Speculation on population

Speculation Spillovers Speculation Spillovers

This paper demonstrates that investor irrationality can be contagious across markets. Supplementing existing studies on resale option theory, we illustrate that warrant speculation could spill over to the underlying stock market. Our findings indicate that high turnover of underlying stocks is associated with previous day’s high unexpected turnover of warrants, or previous day’s larger price de...

A Speculation on Diabetes Mellitus

A brief review of the physiological beliefs relative to diabetes is necessary, as it is on those beliefs that the hypothesis is based. It is taught by the majority of physiologists that all working cells require dextrose for the output of energy, which dextrose is taken from the blood. A cell cannot immediately burn off the dextrose received, but incorporates it first as glycogen, in which stat...

Food Speculation

Bubbles and Experience: An Experiment on Speculation*

We investigate experimentally how the share of experienced traders in doubleauction asset markets affects trading, in particular the occurrence of bubble-crash pricing patterns. In each session, six subjects trade in three successive market rounds and gain experience. In a fourth round, depending on the treatment, two or four experienced subjects are replaced by inexperienced subjects. The resu...

On Information Acquisition , Noise Trading , and Speculation *

This paper provides a micro foundation for the behavior assumptions as well as outcomes in noisy rational expectations equilibrium models. If there are gains from trade, and all agents are rational and can acquire costly information, then equilibria in double auction markets may have the following properties. (i) Ex ante identically informed agents evolve endogenously to noise traders, speculat...