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  1. Towards a general theory of the stock market
    Author: Fender, John
    Published: [2016]
    Publisher:  [Birmingham Business School], [Birmingham]

    Although there are many stock market anomalies which the Efficient Market Hypothesis (EMH) finds difficult to explain, it also has its strengths, and so far no alternative hypothesis has been developed which can explain what the EMH explains but... more

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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 633
    Inter-library loan:
    No inter-library loan

     

    Although there are many stock market anomalies which the Efficient Market Hypothesis (EMH) finds difficult to explain, it also has its strengths, and so far no alternative hypothesis has been developed which can explain what the EMH explains but which can also do a better job in explaining the phenomena with which it struggles. It is argued that the way forward is to postulate that the stock market can be in one of three states: a fundamental state, in which share prices are determined as in the EMH, a bubble or bull market state, in which share prices are above their fundamental levels but continue to rise because asset holders expect to sell the shares at even higher prices in the future, and a bear market state, in which shares are held exclusively by 'irrational' agents and rational agents cannot exploit the overvaluation because of short-selling constraints. It is also argued that heterogeneous rational expectations may help explain some features of stock market behaviour.

     
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    Volltext (kostenfrei)
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/202667
    Series: Discussion paper series / Birmingham Business School ; 2016, 03
    Subjects: efficient market hypothesis; rational expectations; bubbles; bear markets; short-selling constraints
    Scope: 1 Online-Ressource (circa 50 Seiten)
  2. Behavioral origins of epidemiological bifurcations
    Author: Aadland, David; Finnoff, David; Huang, Kevin X. D.
    Published: January 26, 2016
    Publisher:  Vanderbilt University, Department of Economics, Nashville, TN

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Vanderbilt University Department of Economics working papers ; 16-00004
    Subjects: economic epidemiology; bifurcation; dynamics; disease; indeterminacy; rational expectations
    Scope: 1 Online-Ressource (circa 28 Seiten), Illustrationen
  3. Looking backward and looking forward
    Author: Gao, Zhengyuan; Hafner, Christian M.
    Published: May 11, 2016
    Publisher:  Centre for Operations Research and Econometrics, Louvain-la-Neuve

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 203 (2016,14)
    Inter-library loan:
    No inter-library loan
    Export to reference management software   RIS file
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    Content information
    Volltext (kostenfrei)
    Volltext (kostenfrei)
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 2078.1/173946
    Series: CORE discussion papers ; 2016, 14
    Subjects: Perception; filter; rational expectations; estimation
    Scope: 1 Online-Ressource (circa 35 Seiten), Illustrationen