Loading...
Please wait, while we are loading the content...
Similar Documents
Information and ambiguity: herd and contrarian behaviour in financial markets (2008).
| Content Provider | CiteSeerX |
|---|---|
| Author | Ford, J. L. Kelsey, D. Pang, W. |
| Abstract | The paper studies the impact of informational ambiguity on behalf of informed traders on history-dependent price behaviour in a model of sequential trading in financial markets. Following Chateauneuf, Eichberger and Grant (2006), we use neo-additive capacities to model ambiguity. Such ambiguity and attitudes to it can engender herd and contrarian behaviour, and also cause the market to break down. The latter, herd and contrarian behaviour, can be reduced by the existence of a bid-ask spread. |
| File Format | |
| Publisher Date | 2008-01-01 |
| Access Restriction | Open |
| Subject Keyword | Contrarian Behaviour Financial Market Bid-ask Spread Neo-additive Capacity Informational Ambiguity Sequential Trading History-dependent Price Behaviour Paper Study Informed Trader |
| Content Type | Text |