
The Library
Herding and contrarianism in a financial trading experiment with endogenous timing
Tools
Park, Andreas and Sgroi, Daniel (2009) Herding and contrarianism in a financial trading experiment with endogenous timing. In: Royal Economic Society Annual Conference 2009, University of Surrey, 20-22 Apr 2009 (Unpublished)
Research output not available from this repository.
Request-a-Copy directly from author or use local Library Get it For Me service.
Official URL: https://editorialexpress.com/cgi-bin/conference/do...
Abstract
We undertook the first market trading experiments that allowed heterogeneously informed subjects to trade in endogenous time, collecting over 2000 observed trades. Subjects’ decisions were generally in line with the predictions of exogenous-time financial herding theory when that theory is adjusted to allow rational informational herding and contrarianism. While herding and contrarianism did not arise as frequently as predicted by theory, such behavior occurs in a significantly more pronounced manner than in comparable studies with exogenous timing. Types with extreme information traded earliest. Of those with more moderate information, those with signals conducive to contrarianism traded earlier than those with information conducive to herding.
Item Type: | Conference Item (Paper) | ||||
---|---|---|---|---|---|
Subjects: | H Social Sciences > HB Economic Theory | ||||
Divisions: | Faculty of Social Sciences > Economics | ||||
Official Date: | 20 April 2009 | ||||
Dates: |
|
||||
Status: | Not Peer Reviewed | ||||
Publication Status: | Unpublished | ||||
Funder: | Economic and Social Research Council (ESRC), SSHRC, Leverhulme Trust, Cambridge Endowment for Research in Finance | ||||
Conference Paper Type: | Paper | ||||
Title of Event: | Royal Economic Society Annual Conference 2009 | ||||
Type of Event: | Conference | ||||
Location of Event: | University of Surrey | ||||
Date(s) of Event: | 20-22 Apr 2009 | ||||
Related URLs: |
Request changes or add full text files to a record
Repository staff actions (login required)
![]() |
View Item |