Efficiency of the Experimental Prediction Market:  Public Information, Belief Evolution,  and Personality Traits

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題名:	Efficiency of the Experimental Prediction Market: Public Information, Belief Evolution, and Personality Traits
作者:	Chie, Bin-Tzong;Yang, Chih-Hwa
關鍵詞:	Experimental economics;Prediction markets;Belief;Market efficiency;Personality traits
日期:	2021-05-31
上傳時間:	2022-07-05 12:10:14 (UTC+8)
出版者:	Scientific Press International Ltd.
摘要:	This paper examines the ability of markets to aggregate information so that the price generated from the market contains the best estimate of all the available information. The paper investigates how individuals “update” their initial beliefs from their public and private information in light of market prices. In particular, the paper looks at individuals' weighting of public information versus private information. Also, the volume of information in the market via an increased number of traders with private information has a positive impact on the quality of the market price. Lastly, the personality traits of the traders seem to provide some positive impact if the traders are diverse in terms of the proportion of "efficient and organized" traders in the market.
關聯:	Advances in Management and Applied Economics 11(4), p.39-59
DOI:	10.47260/amae/1143
顯示於類別:	[產業經濟學系暨研究所] 期刊論文

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