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dc.contributor.authorCarlé, Tim A.
dc.contributor.authorLahav, Yaron
dc.contributor.authorNeugebauer, Tibor
dc.contributor.authorNoussair, Charles N.
dc.date.accessioned2019-06-03T22:25:32Z
dc.date.available2019-06-03T22:25:32Z
dc.date.issued2019-02
dc.identifier.citationCarlé, T., Lahav, Y., Neugebauer, T., & Noussair, C. (2019). Heterogeneity of Beliefs and Trade in Experimental Asset Markets. Journal of Financial and Quantitative Analysis, 54(1), 215-245. doi:10.1017/S0022109018000571en_US
dc.identifier.issn0022-1090
dc.identifier.issn1756-6916
dc.identifier.doi10.1017/S0022109018000571
dc.identifier.urihttp://hdl.handle.net/10150/632466
dc.description.abstractWe investigate the relationship between traders' expectations and market outcomes with experimental asset market data. The data show that those who have high price expectations buy more frequently and submit higher bids, and those who hold low price expectations sell more frequently and submit lower bids. Traders who have more accurate expectations achieve greater earnings. Simulations using only belief data reproduce the pricing patterns observed in the market well, indicating that the heterogeneity of expectations is a key to explaining market activity.en_US
dc.description.sponsorshipNational Research Fund of Luxembourg [F2R-368 LSF-PMA-13SYSB]en_US
dc.language.isoenen_US
dc.publisherCAMBRIDGE UNIV PRESSen_US
dc.relation.urlhttps://www.cambridge.org/core/product/identifier/S0022109018000571/type/journal_articleen_US
dc.rights© Michael G. Foster School of Business, University of Washington 2018en_US
dc.titleHeterogeneity of Beliefs and Trade in Experimental Asset Marketsen_US
dc.typeArticleen_US
dc.contributor.departmentUniv Arizonaen_US
dc.identifier.journalJOURNAL OF FINANCIAL AND QUANTITATIVE ANALYSISen_US
dc.description.note12 month embargo; published online: 18 December 2018en_US
dc.description.collectioninformationThis item from the UA Faculty Publications collection is made available by the University of Arizona with support from the University of Arizona Libraries. If you have questions, please contact us at repository@u.library.arizona.edu.en_US
dc.eprint.versionFinal published versionen_US
dc.source.journaltitleJournal of Financial and Quantitative Analysis
dc.source.volume54
dc.source.issue1
dc.source.beginpage215
dc.source.endpage245


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