Investor Sentiments

Sergei Izmalkov () and Muhamet Yildiz ()

No w0138, Working Papers from Center for Economic and Financial Research (CEFIR)

Abstract: We consider a general class of games that have been used to model many economic problems where players' sentiments are believed to play an important role. Dropping the common-prior assumption, we identify the relevant notion of sentiments for strategic behavior in these games. This notion is tied to how likely a player thinks that some other player has a more optimistic outlook than himself when they obtain their private information. Under this notion, we show that sentiments have a profound effect on strategic outcomes - even with vanishing uncertainty.

Pages: 19 pages
Date: 2009-02
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Citations: View citations in EconPapers (7)

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Related works:
Journal Article: Investor Sentiments (2010)
Working Paper: Investor Sentiments (2009)
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