Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/185736 
Erscheinungsjahr: 
2018
Schriftenreihe/Nr.: 
Discussion Paper No. 66
Verlag: 
Ludwig-Maximilians-Universität München und Humboldt-Universität zu Berlin, Collaborative Research Center Transregio 190 - Rationality and Competition, München und Berlin
Zusammenfassung: 
Our experiments investigate the extent to which traders learn from the price, differentiating between situations where orders are submitted before versus after the price has realized. In simultaneous markets with bids that are conditional on the price, traders neglect the information conveyed by the hypothetical value of the price. In sequential markets where the price is known prior to the bid submission, traders react to price to an extent that is roughly consistent with the benchmark theory. The difference\'s robustness to a number of variations provides insights about the drivers of this effect.
JEL: 
D82
D81
C91
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
854.39 kB





Publikationen in EconStor sind urheberrechtlich geschützt.