The dynamics of trader motivations in asset bubbles

Abstract

Asset market experiments are analyzed by distinguishing, ex post facto, participants who trade on fundamentals versus those who trade on momentum (i.e., buying when price is rising). The distinction is made when prices are above fundamental value, so that (in each period) those who have more offers than bids (net offerers) are classified as fundamentalists… (More)

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Cite this paper

@inproceedings{Caginalp2005TheDO, title={The dynamics of trader motivations in asset bubbles}, author={Gunduz Caginalp and Valeria Ilieva}, year={2005} }