haku: @indexterm Asset valuation / yhteensä: 357
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| Tekijä: | Ackert, L.F. Church, B.K. Zhang, P. |
| Otsikko: | Asset prices and informed traders' abilities: evidence from experimental asset markets |
| Lehti: | Accounting, Organizations and Society
2004 : OCT, VOL. 29:7, p. 609-626 |
| Asiasana: | Assets Asset valuation |
| Vapaa asiasana: | Asset markets |
| Kieli: | eng |
| Tiivistelmä: | The results of 15 experimental asset markets are reported to investigate the effects of forecasts on market prices, traders' abilities to assess asset value, and the link between the two. Alternative forecast-generating processes are investigated across the 15 markets. In some markets the process produces an unbiased estimate of asset value, and in others a biased estimates. The processes generating the biased forecasts, though, are less variable than the process generating the unbiased forecast. It is found that, generally, period-end asset price reflects private forecasts, regardless of the forecast-generating processes. |
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