Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/108549 
Erscheinungsjahr: 
2015
Schriftenreihe/Nr.: 
Jena Economic Research Papers No. 2015-003
Verlag: 
Friedrich Schiller University Jena, Jena
Zusammenfassung: 
Bubbles are omnipresent in lab experiments with asset markets. But these experiments were (mostly) conducted in environments with only human traders. Today markets are substantially determined by algorithmic traders. Here we use a laboratory experiment to measure human trading behaviour changes if these humans expect algorithmic traders. To disentangle the direct effect algorithmic traders have we use a clean design where we can manipulate only the expectations of human traders. We find clearly smaller bubbles if human traders expect algorithmic traders to be present.
Schlagwörter: 
algorithmic traders
bubbles
expectations
experiment
JEL: 
C92
G0
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
1.47 MB





Publikationen in EconStor sind urheberrechtlich geschützt.