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Price bubbles and crashes in experimental call markets

Authors
Journal
Economics Letters
0165-1765
Publisher
Elsevier
Publication Date
Volume
41
Issue
2
Identifiers
DOI: 10.1016/0165-1765(93)90194-h

Abstract

Abstract Price bubbles relative to intrinsic dividend value are observed using a call market trading institution. Market prices tend to track intrinsic value only when the same group of highly experienced traders participate in three consecutive 15-round markets.

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