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| Author: | Ganguly, A. Kagel, J. Moser, D. |
| Title: | The effects of biases in probability judgments on market prices |
| Journal: | Accounting, Organizations and Society
1994 : NOV, VOL. 19:8, p. 675-700 |
| Index terms: | BIAS PROBABILITY PRICES |
| Language: | eng |
| Abstract: | Experimental markets were used to examine whether individual probability judgment biases affect market prices. This issue is important to accountants because users of accounting information (especially investors) face competitive market environments. The expectation was that it would be more difficult for prices to be unbiased in markets where biased traders had the highest expected payoffs than in markets where unbiased traders had the highest expected payoffs. |
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