Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: http://hdl.handle.net/10419/128340
Autoren: 
Farjam, Mike
Kirchkamp, Oliver
Datum: 
2015
Schriftenreihe/Nr.: 
CESifo Working Paper No. 5631
Zusammenfassung: 
Bubbles are omnipresent in lab experiments with asset markets. Most of these experiments were conducted in environments with only human traders. Today markets are substantially determined by algorithmic traders. Here we use a laboratory experiment to measure changes of human trading behavior if these humans expect algorithmic traders. To disentangle the direct effect of algorithmic traders we use a design where we manipulate only the expectations of human traders. We find clearly smaller bubbles if human traders expect algorithmic traders to be present.
Schlagwörter: 
bubbles
expectations
experiment
algorithmic traders
JEL: 
C92
G02
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
792.63 kB





Publikationen in EconStor sind urheberrechtlich geschützt.