Results

Stefan Palan ()

Chapter Chapter 4 in Bubbles and Crashes in Experimental Asset Markets, 2009, pp 87-136 from Springer

Abstract: Abstract The discussion of the results will start with summary statistics in Sect. 4.1.1. To put these results into perspective, the following section lists a number of definitions for bubble measures found in the literature, as well as some that were created specifically for this study. It then reports more than 600 measure results from 22 studies from the literature and from the present experiment in Tables 7 through 11 (Sect. 4.1.2.1 through 4.1.2.5). The bubble measure results for the experiment of this book are new and reported here for the first time.1 In addition to these analytical measures, every subject answered a questionnaire at the end of each 15-period round. A translation of the questions, some summary statistics of subjects’ responses, and a discussion of the most prominent findings is given in Sect. 4.1.3. Apart from the central research question of this book – namely what effect a digital option market has on spot market efficiency – the observations made during this research project sparked the formulation of a new hypothesis regarding subjects’ expectation formation mechanism in this type of asset market, as well as the discovery of some interesting behavioral patterns. These will be discussed in Sect. 4.2 below.

Keywords: Stock Price; Option Price; Capital Gain; Strike Price; Transaction Price (search for similar items in EconPapers)
Date: 2009
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DOI: 10.1007/978-3-642-02147-3_4

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