结束时间在试验性资产市场中的作用

IF 7.2 1区经济学 Q1 BUSINESS, FINANCE

Journal of Corporate Finance Pub Date : 2024-08-13 DOI:10.1016/j.jcorpfin.2024.102647

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引用次数: 0

摘要

关于试验性资产市场的科学文章数以百计。几乎所有这些文章都使用了短而明确的时间跨度。这可能是实验环境与现实世界金融市场之间最明显的区别之一，现实世界的金融市场通常具有不确定且相对较长的期限。我们在一个资产市场实验中分析了不同结束时间假设的影响，在这个实验中，我们改变了时间跨度的长度以及结束时间是确定的还是不确定的。我们发现，在所有处理方法中，价格动态都非常相似，都会反复出现泡沫。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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The role of the end time in experimental asset markets

There are hundreds of scientific articles on experimental asset markets. Almost all of them use a short and definite horizon. This may be one of the starkest differences between experimental settings and real-world financial markets, which usually have indefinite and comparatively long horizons. We analyze the implications of different end time assumptions in an asset market experiment in which we vary the length of the horizon and whether the end time is definite or indefinite. We find very similar price dynamics with recurring bubbles in all treatments.

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来源期刊

Journal of Corporate Finance BUSINESS, FINANCE-

CiteScore

11.80

自引率

3.30%

发文量

期刊介绍： The Journal of Corporate Finance aims to publish high quality, original manuscripts that analyze issues related to corporate finance. Contributions can be of a theoretical, empirical, or clinical nature. Topical areas of interest include, but are not limited to: financial structure, payout policies, corporate restructuring, financial contracts, corporate governance arrangements, the economics of organizations, the influence of legal structures, and international financial management. Papers that apply asset pricing and microstructure analysis to corporate finance issues are also welcome.