search query: @indexterm Experience / total: 231
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| Author: | Stanley, T. |
| Title: | Bubbles, inertia, and experience in experimental asset markets |
| Journal: | Journal of Socio-Economics
1997 : VOL. 26:6, p. 611-625 |
| Index terms: | SOCIOLOGY EXPERIENCE ASSETS |
| Language: | eng |
| Abstract: | The author finds that irrational bubbles continue to form in an experimental assets market even though experience lessens specious market pricing. However, this irrationality may remain hidden from the customary observational perspective. Both price expectations and bubbles appear rational, passing both traditional and cointegration tests. Conventional statistical testing has difficulty distinguishing irrational inertia from rational market behavior. |
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