Wisdom of the Crowd in Experiments

1. Auflage 2018
ISBN: 978-3-658-24293-0
Verlag: Springer

Buch, Englisch, 100 Seiten, Book, Format (B × H): 148 mm x 210 mm, Gewicht: 157 g

Reihe: BestMasters

Larissa Katharina Senninger analyses the phenomenon of wisdom of the crowd in experimental capital markets. Aiming to find out which market mechanism is able to aggregate different information in a meaningful way, a continuous double auction and a call auction mechanism are tested. In line with expectations, markets with continuous double auction mechanism are better able to aggregate information and additionally take a shorter time. The author shows that receiving more information enables subjects to make better estimations, whereas more information improves the quality of estimations significantly only if it is a lot more information.

Zielgruppe

Research

Autoren/Hrsg.

Senninger, Larissa Katharina

Fachgebiete

• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Internationale Finanzmärkte
• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Bankwirtschaft
• Wirtschaftswissenschaften Volkswirtschaftslehre Internationale Wirtschaft Internationale Finanzmärkte
• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein Verhaltensökonomik

Inhaltsverzeichnis

Wisdom of the Crowd.- Market Experiments.- Information Aggregation.- Experimental Capital Markets.- Trading Mechanisms.- Estimation of Asset Value.- Call Auction Mechanism.- Continuous Double Auction Mechanism.

Über Autor(innen)

Larissa Katharina Senninger holds a master’s degree from the Leopold-Franzens-University in Innsbruck. She started her professional career in the risk controlling department of a German finance service in Munich and is currently responsible for interest rate risk and liquidity risk.