Arbeitspapier
Does risk sorting explain bubbles?
A recent stream of experimental economics literature studies the factors that contribute to the emergence of financial bubbles. We consider a setting where participants sorted according to their degree of risk aversion trade in experimental asset markets. We show that risk sorting is able to explain bubbles partially: Markets with the most risk-tolerant traders exhibit larger bubbles than markets with the most risk averse traders. In our study risk aversion does not correlate with gender or cognitive abilities, so it is an additional factor that helps understand bubbles.
- Sprache
-
Englisch
- Erschienen in
-
Series: IEHAS Discussion Papers ; No. MT-DP - 2019/5
- Klassifikation
-
Wirtschaft
Design of Experiments: Laboratory, Individual
Asset Pricing; Trading Volume; Bond Interest Rates
- Thema
-
externalities
experiment
risk sorting
asset bubble
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Kiss, Hubert J.
Kóczy, László Á.
Pintér, Ágnes
Sziklai, Balázs R.
- Ereignis
-
Veröffentlichung
- (wer)
-
Hungarian Academy of Sciences, Institute of Economics
- (wo)
-
Budapest
- (wann)
-
2019
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Kiss, Hubert J.
- Kóczy, László Á.
- Pintér, Ágnes
- Sziklai, Balázs R.
- Hungarian Academy of Sciences, Institute of Economics
Entstanden
- 2019
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