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Irrational Market Makers

Germain, Laurent and Rousseau, Fabrice and Vanhems, Anne Irrational Market Makers. (2014) Finance, 35 (1). 107-145. ISSN 0752 - 6180

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Official URL: http://www.cairn.info/resume.php?ID_ARTICLE=FINA_351_0107

Abstract

Economic and financial theories have widely used the assumption that agents behave rationally. Such an assumption has failed to explain some properties observed in financial markets such as (i) the excessive volume traded [see Odean (1998b)], (ii) underreaction or overreaction of market participants [see Debondt and Thaler (1985)], and (iii ) the excessive volatility observed in financial markets [see Shiller (1981,1989)].

Item Type:Article
Audience (journal):International peer-reviewed journal
Uncontrolled Keywords:
Institution:Université de Toulouse > Institut Supérieur de l'Aéronautique et de l'Espace - ISAE-SUPAERO (FRANCE)
Université de Toulouse > Toulouse Business School - TBS (FRANCE)
Other partners > National University of Ireland Maynooth (IRELAND)
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Deposited By: odile huynh
Deposited On:13 Oct 2014 12:24

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