کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5059874 | 1371792 | 2012 | 4 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Tournament incentives and asset price bubbles: Evidence from a field experiment
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
In this note we show at the example of an experimental stock market, conducted on the occasion of the World Soccer Championship 2010 in South Africa, how tournament incentives might contribute to the formation of asset price bubbles.
Highlights⺠An experimental stock market was conducted on the occasion of the Soccer World Cup. ⺠On this market a bubble evolved as a consequence of communication and strong tournament incentives. ⺠The bubble was driven by numerous new traders attracted by a news headline. ⺠The stock price of Germany rose by 20% within minutes. ⺠Coincident fundamentals would have suggested just the opposite direction.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Economics Letters - Volume 115, Issue 2, May 2012, Pages 232-235
Journal: Economics Letters - Volume 115, Issue 2, May 2012, Pages 232-235
نویسندگان
Michael Berlemann, Henning Vöpel,