Why did the Nikkei crash? Expanding the scope of expectations data collection

Article Abstract:

A survey was conducted among stock market speculators in Japan and the US regarding their views before, during, and after the fall of the Nikkei stock price average from 1989 to 1992. Time series analysis results show differences in market expectations among speculators in both countries. However, the results also indicate a relationship between the Nikkei crash and the speculations of Japanese investors regarding increases in earnings.

Usage, Stockholders, Stock-exchange, Stock exchanges, Time-series analysis, Time series analysis, Nikkei Dow Jones Industrial Average (Index)

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Cobwebs, rational expectations and futures markets

Article Abstract:

Cobweb cycles and other market behavior not conforming with the Muth Rational Expectations theory (MRE) happen when there are no commodity futures markets. However, despite the presence of futures markets in financial and foreign exchange, the MRE theory is not followed. Proof and explanation of these observations are presented.

Futures market, Futures markets

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An empirical window on rational expectations formation

Article Abstract:

The expectations about an individual's length of life is used as an empirical test for rational expectations. Empirical observations, however, indicate that length of life expectations are not consistent with rational expectation models.

Life expectancy

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