| 000 -LEADER |
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| fixed length control field |
01262nam a22001577a 4500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION |
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| fixed length control field |
201130b ||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME |
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| Personal name |
Kendall, Chad. |
| 245 ## - TITLE STATEMENT |
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| Title |
Market panics, frenzies, and informational efficiency: Theory and experiment |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) |
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| Place of publication, distribution, etc |
American Economic Journal Microeconomics |
| 300 ## - PHYSICAL DESCRIPTION |
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| Extent |
12(3), Aug, 2020: p. 76-115 |
| 520 ## - SUMMARY, ETC. |
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| Summary, etc |
In a market rush, the fear of future adverse price movements causes traders to trade before they become well informed, reducing the informational efficiency of the market. I derive theoretical conditions under which market rushes are equilibrium behavior and study how well these conditions organize trading behavior in a laboratory implementation of the model. Market rushes, including both panics and frenzies, occur more frequently when predicted by theory. However, subjects use commonly discussed, momentum-like strategies that lead to informational losses not predicted by theory, suggesting that these strategies may exacerbate both the occurrence and consequences of panics and frenzies. - Reproduced |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
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| Topical term or geographic name as entry element |
Information and Market Efficiency; Event Studies; Insider Trading |
| 9 (RLIN) |
21580 |
| 773 ## - HOST ITEM ENTRY |
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| Main entry heading |
American Economic Journal Microeconomics |
| 906 ## - LOCAL DATA ELEMENT F, LDF (RLIN) |
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| Subject DIP |
TRADING |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) |
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| Item type |
Articles |
