Complex bubble persistence in Closed-end country funds
Article Abstract:
A study of six closed-end country funds (CECF's) shows the presence of speculative bubbles despite the presence of sound net asset values. The presence of speculative bubbles are shown to be closely related to noise traders, as well as some private and government entities called Big Players. In the case of CECF's, Nomura Securities and other New York branches of Japanese securities firms were identified as Big Players during the latter part of 1989 and earlier part of 1990.
Publication Name: Journal of Economic Behavior & Organization
Subject: Economics
ISSN: 0167-2681
Year: 1997
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Volatility via social flaring
Article Abstract:
Models of socially coupled flare attractor systems have the potential to mimic the kurtotic behavior that is evident in many financial markets. The behavior of the system becomes more nuanced and complex because of large number of agents.
Publication Name: Journal of Economic Behavior & Organization
Subject: Economics
ISSN: 0167-2681
Year: 2003
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Does society benefit from investor overconfidence in the ability of financial market experts?
Article Abstract:
Overconfidence of the investor in the form of over trust in the market experts enhances liquidity and brings down transaction costs. Such irrational beliefs can be beneficial to all traders in the financial markets.
Publication Name: Journal of Economic Behavior & Organization
Subject: Economics
ISSN: 0167-2681
Year: 2005
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