It is Not Just Confusion! Strategic Uncertainty in An Experimental Asset Market
Bibliographic Data
| ID | 9713768 |
|---|---|
| Authors | Eizo Akiyama (0000-0003-2707-2007, University of Tsukuba), Nobuyuki Hanaki (0000-0003-3127-690X, Université Côte d’Azur, CNRS, GREDEG, and IUF), Ryuichiro Ishikawa (0000-0002-0290-1107, University of Tsukuba) |
| Year | 2017 |
| Volume | 127 |
| Issue | 605 |
| Pages | F563-F580 |
| Publication date | 2017-10-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1111/ecoj.12338 |
| OpenAlex | W1486194684 |
| Language | EN |
| Citations received | 8 |
| References cited | 35 |
To what extent is the observed mispricing in experimental asset markets caused by strategic uncertainty and by confusion? We address this question by comparing subjects’ initial price forecasts in two market environments: one with six human traders and the other with one human and five computer traders. We find that both strategic uncertainty and confusion contribute equally to the median initial forecast deviation from the fundamental value. The effect of strategic uncertainty is greater for subjects with a perfect score in the cognitive reflection test, and it is not significant for those with low scores
Actuarial science · Asset (computer security · Confusion · Econometrics · Economics · Financial economics · Microeconomics · Statistics · Value (mathematics · Computer Science · Decision-Making and Behavioral Economics · Financial Markets and Investment Strategies · Forecasting Techniques and Applications · Mathematics · Psychology
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| Unique citing works | 8 |
|---|---|
| Citations per year | 0,73 |
| Citation span | 2015 - 2026 (12) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 8 |