Irrational Market Makers
We analyze a model where irrational and rational informed traders exchange a risky asset with irrational market makers. Irrational traders misperceive the mean of prior information (optimistic/pessimistic bias) and the variance of the noise in their private signal (overconfidence/ underconfidence bi...
Sparad:
| Huvudupphovsmän: | , , |
|---|---|
| Materialtyp: | Article ou chapitre numérique |
| Språk: | Français |
| Publicerad: |
2014
|
| Länkar: | Accès Université d'Orléans et IFPM Accès Université d'Orléans et IFPM |