Rumor y burbujas en el mercado de acciones

Rumor y burbujas en el mercado de acciones

En el presente artículo se analiza si la propagación de un rumor referido a las acciones en un mercado influye o no en el comportamiento de los agentes al momento de tomar decisiones de inversión, y si este se correlaciona con la formación de burbujas. Para efectos de esta investigación, realizada en el 2008, se creó un ambiente experimental donde las variables de incertidumbre fueron controladas y el pago por acción correspondía al valor esperado de los dividendos, siendo independiente de la propagación de un rumor. Bajo esta estructura lo esperado sería un efecto nulo del rumor sobre el precio de la acción, sin embargo, los resultados evidencian que el rumor tiene incidencia en los precios de las acciones generando burbujas.

Guardado en:

Revista ODEON

1794-1113

2346-2140

Rivera Pardo, Alexandra

UNIVERSIDAD EXTERNADO DE COLOMBIA

2012-07-01

Colombia

agentes

fundamentales

acciones

dividendo de las acciones

burbujas financieras

Mercado experimental de acciones

http://purl.org/coar/access_right/c_abf2

info:eu-repo/semantics/openAccess

id 1a12d127a2f43192209de314a4302f34
record_format ojs
spelling Rumor y burbujas en el mercado de acciones
King, Ronald; Smith, Vernon; Williams, Arlington & Van Boening, Mark. (1993). “The robustness of bubbles and crashes in experimental stock markets”, in nonlinear dynamics and evolutionary economics, Ed. I. Prigogine, R. Day, and P. Chen. New York, Oxford University Press, pp. 183-200.
Murphy, James & Cardenas, Juan. (2004). “An experiment on Enforcement Strategies for Managing a Local Environment Resource”. [http://www.indiana.edu/~econed/pdffiles/winter04/Murphy.pdf]. Journal of Economic Education, pp. 47-60.
Monti, Guillermo. (2006). “El rumor”. [http://www.rs.ejercito.mil.ar/Contenido/Nro662/armado662.htm]. Revista del Suboficial, n.º 662.
Mandelbrot, Benoît & Hudson, Richard. (2006). Finanzas y fractales. Barcelona, Tusquets Editores. Título original: Behavoir of Markets. A fractal view of Risk, Ruin and Reward.
Lozano, Francisco & Herrera Juan. (2005). “Modelo de manadas y aprendizaje social”, Revista de Economía Institucional, vol. 7 (13), pp. 133-157.
Levin, Jack & Arluke, Arnold. (1985). Gossip: The Inside Scoop. New York, Ed. Plenum.
Lei, Vivian; Noussair, Charles & Plott, Charles. (2001). “Non speculative Bubbles in Experimental Asset Markets: Lack of Common Knowledge of Rationality Vs Actual Irrationality”. Econometrica, vol. 69 (4), pp. 831-859.
Kotelchuk, Natalia. (2003). “Teoría de las relaciones públicas”. Consultado en: http://www.gestiopolis.com/recursos/documentos/fulldocs/mar1/teorelpub.htm.
Knapp, Robert. (1944). “A Psychology of Rumor”. Public opinion Quarterly Journal, n.º 8, pp. 23-37.
Keynes, John. (1936). The General Theory of Employment, Interest and Money. Royal Economic Society, p. 138.
Noussair, Charles & Haruvy, Ernan. (2006). “The Effect of Short Selling on Bubbles and Crashes in Experimental Spot Asset Markets”. [http://www.latrobe.edu.au/business/assets/downloads/seminars/2005/Haruvy-NoussairApril%202005.pdf]. The Journal of Finance, vol. 61 (3), pp. 1119-1157.
Kapferer, Jean-Noël. (1989). “Rumores”. Barcelona, Ed. Plaza & Janes.
Kaldor, Nicholas. (1939). “Speculation and Economic Stability”. The Review of Economic Studies, vol. 7 (1), pp. 17-45.
Hey, John. (1991). Experiments in Economics. Oxford, Ed. Blackwell Publishers.
Friedman, Daniel & Sunder, Shyam. (1994). Experimental economics. A primer for economists. Cambridge, UK, Ed. Cambridge University Press.
Flood, Robert & Hodrick, Robert. (1990). “On testing Speculative Bubbles”. [http://www.econ.ku.dk/okocg/Students%20Seminars%C3%98kon%C3%98velser/%C3%98velse%202007/artikler/Flood-Hodrick-Bubbles-JEP-1990.pdf]. The Journal of Economic Perspectives,vol. 4, n.º 2, pp. 85-101.
Flanders, J.P. (1968). “A Review of Research on Imitative Behavior”, Psychological Bulletin, n.º 69 (5), pp. 316-337.
Fisher, Eric. (1998). “Explaining Bubbles in Experimental Asset Markets”. [http://economics.sbs.ohio-state.edu/pdf/fisher/explain.pdf]. Working Paper Ohio State University.
Dumbar, R.I.M. (1993). “Co-Evolution of neocortex size, group size and language inhumans”. Behavioral and Brain Sciences, 16 (4), pp. 681-735. Recuperado el 13 de agosto de 2008 en: http://www.bbsonline.org/documents/a/00/00/05/65/bbs00000565-00/bbs.dunbar.html.
Dufwenberg, Martin; Lindqvist, Tobias & Moore, Evan. (2005). “Bubbles and Experience: An Experiment”. [http://www.ifn.se/Wfiles/wp/WP588.pdf]. The Research Institute of Industrial Economics, Working Paper n.º 588, pp. 1-26.
Navarro, Alfredo & Verstraete, Juan. (1995). “Las burbujas y la eficiencia en el mercado de valores: la experiencia de Argentina después de la convertibilidad”. XXX Reunión Anual, Asociación Argentina de Economía Política.
Noussair, Charles & Steven, Tucker. (2006). “Futures Markets and Bubble Formation in Experimental Asset Markets”. [http://www.atl-res.com/macro/papers/Noussair%20paper.pdf]. Pacific Economic Review, vol. 11 (2), pp. 167-184.
Duffy, John & Ünver, M. Utku. (2006). “Asset price bubbles and crashes with near-zero intelligence traders”. [http://www.springerlink.com/content/l112346u02685334/fulltext.pdf]. Economic Theory, vol. 27 (3) pp. 1-27.
Williams, Arlington; Smith, Vernon & Suchanek, Gerry. (1988). “Bubbles, Crashes and Endogenous Expectations in Experimental Spot Asset Markets”. [http://gillesdaniel.com/papers/1988.Smith,Suchanek,Gerry,Williams.Bubbles_Crashes_and_Endogenous_Expectations_in_Experimental_Spot_Asset_Markets.pdf] Econometria, vol.56 (5), pp. 1119-1151.
Text
http://purl.org/coar/access_right/c_abf2
info:eu-repo/semantics/openAccess
http://purl.org/coar/version/c_970fb48d4fbd8a85
info:eu-repo/semantics/publishedVersion
http://purl.org/redcol/resource_type/ARTREF
http://purl.org/coar/resource_type/c_6501
info:eu-repo/semantics/article
Williams, Arlington. (2003). “Price Bubbles in Large Financial Asset Markets”. [http://www.indiana.edu/~arlwilli/pdf%20files/bigmkts.pdf]. Forth coming Handbook of Experimental Economic Results, Plott, Charles & Smith, Vernon. Eds. Indiana University.
Westen, Robin. (1996). “The real slant on gossip”. Psychology Today. Consultado en: http://www.psychologytoday.com/articles/pto-19960701-000035.html.
Odean, Terrance. (1998). “¿Do Investor Trade Too Much?”, Working Paper Series, Haas School of Business, Consultado en http://ssrn.com/abstract=94143 Libro: Behavior in Economics cap. 23, pp. 607-631.
Watts, Duncan. (2003). Seis grados de separación. La ciencia de las redes en la era del acceso. Barcelona, Publicación en castellano (2006) Ed. Paidos.
Walt, Stephen. (2000). “Fads, Fever and Firestorms”. Foreign Policy, n.º 121, pp. 34-42.
Topol, Richard. (1991). “Bubbles and Volatility of Stock Prices: Effect of Mimetic Contagion”. [http://www.behaviouralfinance.net/bubbles/Topo91.pdf]. The economic Journal, vol. 101 (407), pp. 786-800.
Sornette, Didier. (2003). Why Stock Markets Crash: Critical Events in Complex Financial Systems. Princeton University Press.
Simon, Herbert. (1982). Models of Bounded Rationality. Cambridge MA. Ed. MIT Press.
Shiller, Robert. (2000). “Irrational Exuberance”, American Journal of Economics and Sociology, vol. 59 (3), pp. 537-540.
Shiller, Robert. (1990). “Market Volatility and Investor Behavior”. [http://www.ensino.uevora.pt/tf/papers2004/shiller.pdf]. The American Economic Review, vol. 80 (2),pp. 58-62.
Schindler, Mark. (2003). “Rumors in Financial Markets”. Working Paper, n.º 159, Institute for Empirical Research in Economics University of Zurich.
Robledo, Andrés. (2003). La sapiencia del homo sapiens. Bogotá, Universidad de los Andes.
Dufwenberg, Martin; Lindqvist, Tobias & Moore, Evan. (2003). “Bubbles and traders”. Economic Theory, vol. 27 (3), pp. 537-563.
Drehmann, Mathia; Oechsller, Jorg & Roider, Andreas. (2004). “Herding with and without Payoff Externalities: An Internet Experiment”. [http://www.awi.uni-heidelberg.de/with2/Discussion%20papers/papers_2003_2005/dp420.pdf]. The American Economic Review, pp. 1403-1423.
DiFonzo, Nicholas & Borida, Prashant. (2006). Rumor Psychology: Social and organizational Approaches. Ed. American Psychological Association (APA).
Artículo de revista
https://creativecommons.org/licenses/by-nc-sa/4.0/
Español
https://revistas.uexternado.edu.co/index.php/odeon/article/view/3698
ODEON
Universidad Externado de Colombia
text/html
application/pdf
7
Allen, Franklin & Gale, Douglas. (2000). “Financial Contagion”. The Journal of Political Economic, vol. 108 (1), pp. 1-33.
agentes
fundamentales
acciones
dividendo de las acciones
burbujas financieras
Mercado experimental de acciones
Rivera Pardo, Alexandra
En el presente artículo se analiza si la propagación de un rumor referido a las acciones en un mercado influye o no en el comportamiento de los agentes al momento de tomar decisiones de inversión, y si este se correlaciona con la formación de burbujas. Para efectos de esta investigación, realizada en el 2008, se creó un ambiente experimental donde las variables de incertidumbre fueron controladas y el pago por acción correspondía al valor esperado de los dividendos, siendo independiente de la propagación de un rumor. Bajo esta estructura lo esperado sería un efecto nulo del rumor sobre el precio de la acción, sin embargo, los resultados evidencian que el rumor tiene incidencia en los precios de las acciones generando burbujas.
Abreu, Dilip & Brunnermeier, Markus. (2001). “Bubbles and Crashes”. [http://www.princeton.edu/~markus/research/papers/bubbles_crashes.pdf]. Princeton Working Paper, pp. 1-38.
Publication
Allport, Gordon & Portman, Leo. (1978). La psicología del rumor. Buenos Aires, Editorial Siglo XX.
Benos, Alexandros. (1998). “Aggressiveness and survival of over confident traders”. [http://bbs.cenet.org.cn/uploadImages/200351314291620357.pdf]. Journal of Financial Markets, pp. 353-383.
Campanario, Sebastián. (2003). “Viaje a la frontera de la teoría económica”. Diario El Clarín. Abril 27. Consultado en http://www.clarin.com/suplementos/economico/2003/04/27/n-00211.htm.
Çelen, Bo?açhan & Kariv, Shachar. (2004). “Distinguish Informational Cascades from herd behavior in the laboratory”. [http://cess.nyu.edu/0003:2001-10.pdf]. The America Economic Review, vol. 94 (3), pp. 484-498.
Camerer, Colin. (1989). “Bubbles and Fads in Asset Prices”, Journal of Economic Surveys, vol. 3 (1), pp. 4-30.
Bikhchandani, Sushil; Hirshleifer, David & Welch, Ivo. (1992). “A Theory of Fads, Fashion, Custom, and Cultural Change as Informational Cascades”. [http://welch.econ.brown.edu/academics/journalcopy/1992-jpe.pdf]. Journal of Political Economy 100 (5), pp. 992-1026.
Asch, Solomon. (1956). “Studies of independence and conformity: I. A minority of one against a unanimous majority”. Psychological Monographs, vol. 70 (416), p. 70.
Chang, Eric; Cheng, Joseph & Khorana, Ajay. (2000). “An examination of herd behaviorin equity markets: An international perspective”. [http://papers.ssrn.com/sol3/papers.cfm?abstract_id=181872]. Journal of Banking and Finance, vol. 24, pp. 1651-1679.
Corcos, A.; Eckmann, J-P.; Malaspinas, A.; Malevergne, Y. & Sornette, D. (2002). “Imitation and contrarian behaviour: hyperbolic bubbles, crashes and chaos”. [http://arxiv.org/PS_cache/cond-mat/pdf/0109/0109410v1.pdf]. Quantitative Finance, vol. 2 (4), pp. 264-281.
Behzad, Diba & Grossman, Herschel. (1988). “The Theory of Rational Bubbles in Stock Prices”. The Economic Journal, vol. 98 (392), pp. 746-754.
Caginalp, Gunduz; Porter, David & Smith, Vernon. (2000). “Momentum and Over reaction in Experimental Asset Markets”. [http://www.behaviouralfinance.net/momentum/CaPS00.pdf]. International Journal of Industrial organization, vol. 18 (1), pp.187-204.
Becker, Ralf; Fischbacher, Urs & Hens, Thorsten. (2002). “Soft landing of a Stock Market Bubble. An experimental Study”. [http://e-collection.ethbib.ethz.ch/eserv.php?pid=eth:25593&dsID=eth-25593-01.pdf]. Working Paper Series, Institute for Empirical Research in Economics, pp. 1-65.
Barner, Martin; Feri, Francesco & Plott, Charles. (2005). “On the microstructure of price determination and information aggregation with sequential and asymmetric information arrival in an experimental asset market”. [http://www.springerlink.com/content/1yq3t2ty3eq8dlau/fulltext.pdf]. Annals of Finance, vol. 1 (1), pp. 1-35.
Davis, Douglas & Holt, Charles. (1993). Experimental Economics. Princeton NJ., Ed.Princeton University Press.
Diba, Behzad & Grossman, Herschel. (1998). “The Theory of Rational Bubbles in Stock Prices”. The Economic Journal, vol. 98 (392), pp. 746-754.
Banerjee, Abhijit. (1993). “The Economics of Rumors”. [http://web.cenet.org.cn/upfile/77298.pdf]. Review of Economic Studies, 60, pp. 309-327.
Ball, Sheryl & Holt, Charles. (1998). “Speculation and Bubbles in an Asset Market”. [http://people.virginia.edu/~cah2k/bubbletr.pdf]. Journal of Economic Perspectives, vol. 12:1, pp. 207-218.
Avery, Christopher & Zemsky, Peter. (1998). “Multidimensional Uncertainty and herd behavior in Financial Markets”. The American Economic Review, vol. 88 (4), pp.724-747.
Camerer, Colin. (1992). “The Rationality of Prices and Volume in Experimental Markets”. Organizational Behavior and Human Decision Processes, vol. 51 (2), pp. 237-272.
Journal article
Rumor y burbujas en el mercado de acciones
2012-07-01T00:00:00Z
https://revistas.uexternado.edu.co/index.php/odeon/article/download/3698/4135
https://revistas.uexternado.edu.co/index.php/odeon/article/download/3698/3828
2012-07-01T00:00:00Z
2012-07-01
1794-1113
2346-2140
https://revistas.uexternado.edu.co/index.php/odeon/article/view/3698
institution UNIVERSIDAD EXTERNADO DE COLOMBIA
thumbnail https://nuevo.metarevistas.org/UNIVERSIDADEXTERNADODECOLOMBIA/logo.png
country_str Colombia
collection Revista ODEON
title Rumor y burbujas en el mercado de acciones
spellingShingle Rumor y burbujas en el mercado de acciones
Rivera Pardo, Alexandra
agentes
fundamentales
acciones
dividendo de las acciones
burbujas financieras
Mercado experimental de acciones
title_short Rumor y burbujas en el mercado de acciones
title_full Rumor y burbujas en el mercado de acciones
title_fullStr Rumor y burbujas en el mercado de acciones
title_full_unstemmed Rumor y burbujas en el mercado de acciones
title_sort rumor y burbujas en el mercado de acciones
title_eng Rumor y burbujas en el mercado de acciones
description En el presente artículo se analiza si la propagación de un rumor referido a las acciones en un mercado influye o no en el comportamiento de los agentes al momento de tomar decisiones de inversión, y si este se correlaciona con la formación de burbujas. Para efectos de esta investigación, realizada en el 2008, se creó un ambiente experimental donde las variables de incertidumbre fueron controladas y el pago por acción correspondía al valor esperado de los dividendos, siendo independiente de la propagación de un rumor. Bajo esta estructura lo esperado sería un efecto nulo del rumor sobre el precio de la acción, sin embargo, los resultados evidencian que el rumor tiene incidencia en los precios de las acciones generando burbujas.
author Rivera Pardo, Alexandra
author_facet Rivera Pardo, Alexandra
topicspa_str_mv agentes
fundamentales
acciones
dividendo de las acciones
burbujas financieras
Mercado experimental de acciones
topic agentes
fundamentales
acciones
dividendo de las acciones
burbujas financieras
Mercado experimental de acciones
topic_facet agentes
fundamentales
acciones
dividendo de las acciones
burbujas financieras
Mercado experimental de acciones
citationissue 7
publisher Universidad Externado de Colombia
ispartofjournal ODEON
source https://revistas.uexternado.edu.co/index.php/odeon/article/view/3698
language Español
format Article
rights http://purl.org/coar/access_right/c_abf2
info:eu-repo/semantics/openAccess
https://creativecommons.org/licenses/by-nc-sa/4.0/
references King, Ronald; Smith, Vernon; Williams, Arlington & Van Boening, Mark. (1993). “The robustness of bubbles and crashes in experimental stock markets”, in nonlinear dynamics and evolutionary economics, Ed. I. Prigogine, R. Day, and P. Chen. New York, Oxford University Press, pp. 183-200.
Murphy, James & Cardenas, Juan. (2004). “An experiment on Enforcement Strategies for Managing a Local Environment Resource”. [http://www.indiana.edu/~econed/pdffiles/winter04/Murphy.pdf]. Journal of Economic Education, pp. 47-60.
Monti, Guillermo. (2006). “El rumor”. [http://www.rs.ejercito.mil.ar/Contenido/Nro662/armado662.htm]. Revista del Suboficial, n.º 662.
Mandelbrot, Benoît & Hudson, Richard. (2006). Finanzas y fractales. Barcelona, Tusquets Editores. Título original: Behavoir of Markets. A fractal view of Risk, Ruin and Reward.
Lozano, Francisco & Herrera Juan. (2005). “Modelo de manadas y aprendizaje social”, Revista de Economía Institucional, vol. 7 (13), pp. 133-157.
Levin, Jack & Arluke, Arnold. (1985). Gossip: The Inside Scoop. New York, Ed. Plenum.
Lei, Vivian; Noussair, Charles & Plott, Charles. (2001). “Non speculative Bubbles in Experimental Asset Markets: Lack of Common Knowledge of Rationality Vs Actual Irrationality”. Econometrica, vol. 69 (4), pp. 831-859.
Kotelchuk, Natalia. (2003). “Teoría de las relaciones públicas”. Consultado en: http://www.gestiopolis.com/recursos/documentos/fulldocs/mar1/teorelpub.htm.
Knapp, Robert. (1944). “A Psychology of Rumor”. Public opinion Quarterly Journal, n.º 8, pp. 23-37.
Keynes, John. (1936). The General Theory of Employment, Interest and Money. Royal Economic Society, p. 138.
Noussair, Charles & Haruvy, Ernan. (2006). “The Effect of Short Selling on Bubbles and Crashes in Experimental Spot Asset Markets”. [http://www.latrobe.edu.au/business/assets/downloads/seminars/2005/Haruvy-NoussairApril%202005.pdf]. The Journal of Finance, vol. 61 (3), pp. 1119-1157.
Kapferer, Jean-Noël. (1989). “Rumores”. Barcelona, Ed. Plaza & Janes.
Kaldor, Nicholas. (1939). “Speculation and Economic Stability”. The Review of Economic Studies, vol. 7 (1), pp. 17-45.
Hey, John. (1991). Experiments in Economics. Oxford, Ed. Blackwell Publishers.
Friedman, Daniel & Sunder, Shyam. (1994). Experimental economics. A primer for economists. Cambridge, UK, Ed. Cambridge University Press.
Flood, Robert & Hodrick, Robert. (1990). “On testing Speculative Bubbles”. [http://www.econ.ku.dk/okocg/Students%20Seminars%C3%98kon%C3%98velser/%C3%98velse%202007/artikler/Flood-Hodrick-Bubbles-JEP-1990.pdf]. The Journal of Economic Perspectives,vol. 4, n.º 2, pp. 85-101.
Flanders, J.P. (1968). “A Review of Research on Imitative Behavior”, Psychological Bulletin, n.º 69 (5), pp. 316-337.
Fisher, Eric. (1998). “Explaining Bubbles in Experimental Asset Markets”. [http://economics.sbs.ohio-state.edu/pdf/fisher/explain.pdf]. Working Paper Ohio State University.
Dumbar, R.I.M. (1993). “Co-Evolution of neocortex size, group size and language inhumans”. Behavioral and Brain Sciences, 16 (4), pp. 681-735. Recuperado el 13 de agosto de 2008 en: http://www.bbsonline.org/documents/a/00/00/05/65/bbs00000565-00/bbs.dunbar.html.
Dufwenberg, Martin; Lindqvist, Tobias & Moore, Evan. (2005). “Bubbles and Experience: An Experiment”. [http://www.ifn.se/Wfiles/wp/WP588.pdf]. The Research Institute of Industrial Economics, Working Paper n.º 588, pp. 1-26.
Navarro, Alfredo & Verstraete, Juan. (1995). “Las burbujas y la eficiencia en el mercado de valores: la experiencia de Argentina después de la convertibilidad”. XXX Reunión Anual, Asociación Argentina de Economía Política.
Noussair, Charles & Steven, Tucker. (2006). “Futures Markets and Bubble Formation in Experimental Asset Markets”. [http://www.atl-res.com/macro/papers/Noussair%20paper.pdf]. Pacific Economic Review, vol. 11 (2), pp. 167-184.
Duffy, John & Ünver, M. Utku. (2006). “Asset price bubbles and crashes with near-zero intelligence traders”. [http://www.springerlink.com/content/l112346u02685334/fulltext.pdf]. Economic Theory, vol. 27 (3) pp. 1-27.
Williams, Arlington; Smith, Vernon & Suchanek, Gerry. (1988). “Bubbles, Crashes and Endogenous Expectations in Experimental Spot Asset Markets”. [http://gillesdaniel.com/papers/1988.Smith,Suchanek,Gerry,Williams.Bubbles_Crashes_and_Endogenous_Expectations_in_Experimental_Spot_Asset_Markets.pdf] Econometria, vol.56 (5), pp. 1119-1151.
Williams, Arlington. (2003). “Price Bubbles in Large Financial Asset Markets”. [http://www.indiana.edu/~arlwilli/pdf%20files/bigmkts.pdf]. Forth coming Handbook of Experimental Economic Results, Plott, Charles & Smith, Vernon. Eds. Indiana University.
Westen, Robin. (1996). “The real slant on gossip”. Psychology Today. Consultado en: http://www.psychologytoday.com/articles/pto-19960701-000035.html.
Odean, Terrance. (1998). “¿Do Investor Trade Too Much?”, Working Paper Series, Haas School of Business, Consultado en http://ssrn.com/abstract=94143 Libro: Behavior in Economics cap. 23, pp. 607-631.
Watts, Duncan. (2003). Seis grados de separación. La ciencia de las redes en la era del acceso. Barcelona, Publicación en castellano (2006) Ed. Paidos.
Walt, Stephen. (2000). “Fads, Fever and Firestorms”. Foreign Policy, n.º 121, pp. 34-42.
Topol, Richard. (1991). “Bubbles and Volatility of Stock Prices: Effect of Mimetic Contagion”. [http://www.behaviouralfinance.net/bubbles/Topo91.pdf]. The economic Journal, vol. 101 (407), pp. 786-800.
Sornette, Didier. (2003). Why Stock Markets Crash: Critical Events in Complex Financial Systems. Princeton University Press.
Simon, Herbert. (1982). Models of Bounded Rationality. Cambridge MA. Ed. MIT Press.
Shiller, Robert. (2000). “Irrational Exuberance”, American Journal of Economics and Sociology, vol. 59 (3), pp. 537-540.
Shiller, Robert. (1990). “Market Volatility and Investor Behavior”. [http://www.ensino.uevora.pt/tf/papers2004/shiller.pdf]. The American Economic Review, vol. 80 (2),pp. 58-62.
Schindler, Mark. (2003). “Rumors in Financial Markets”. Working Paper, n.º 159, Institute for Empirical Research in Economics University of Zurich.
Robledo, Andrés. (2003). La sapiencia del homo sapiens. Bogotá, Universidad de los Andes.
Dufwenberg, Martin; Lindqvist, Tobias & Moore, Evan. (2003). “Bubbles and traders”. Economic Theory, vol. 27 (3), pp. 537-563.
Drehmann, Mathia; Oechsller, Jorg & Roider, Andreas. (2004). “Herding with and without Payoff Externalities: An Internet Experiment”. [http://www.awi.uni-heidelberg.de/with2/Discussion%20papers/papers_2003_2005/dp420.pdf]. The American Economic Review, pp. 1403-1423.
DiFonzo, Nicholas & Borida, Prashant. (2006). Rumor Psychology: Social and organizational Approaches. Ed. American Psychological Association (APA).
Allen, Franklin & Gale, Douglas. (2000). “Financial Contagion”. The Journal of Political Economic, vol. 108 (1), pp. 1-33.
Abreu, Dilip & Brunnermeier, Markus. (2001). “Bubbles and Crashes”. [http://www.princeton.edu/~markus/research/papers/bubbles_crashes.pdf]. Princeton Working Paper, pp. 1-38.
Allport, Gordon & Portman, Leo. (1978). La psicología del rumor. Buenos Aires, Editorial Siglo XX.
Benos, Alexandros. (1998). “Aggressiveness and survival of over confident traders”. [http://bbs.cenet.org.cn/uploadImages/200351314291620357.pdf]. Journal of Financial Markets, pp. 353-383.
Campanario, Sebastián. (2003). “Viaje a la frontera de la teoría económica”. Diario El Clarín. Abril 27. Consultado en http://www.clarin.com/suplementos/economico/2003/04/27/n-00211.htm.
Çelen, Bo?açhan & Kariv, Shachar. (2004). “Distinguish Informational Cascades from herd behavior in the laboratory”. [http://cess.nyu.edu/0003:2001-10.pdf]. The America Economic Review, vol. 94 (3), pp. 484-498.
Camerer, Colin. (1989). “Bubbles and Fads in Asset Prices”, Journal of Economic Surveys, vol. 3 (1), pp. 4-30.
Bikhchandani, Sushil; Hirshleifer, David & Welch, Ivo. (1992). “A Theory of Fads, Fashion, Custom, and Cultural Change as Informational Cascades”. [http://welch.econ.brown.edu/academics/journalcopy/1992-jpe.pdf]. Journal of Political Economy 100 (5), pp. 992-1026.
Asch, Solomon. (1956). “Studies of independence and conformity: I. A minority of one against a unanimous majority”. Psychological Monographs, vol. 70 (416), p. 70.
Chang, Eric; Cheng, Joseph & Khorana, Ajay. (2000). “An examination of herd behaviorin equity markets: An international perspective”. [http://papers.ssrn.com/sol3/papers.cfm?abstract_id=181872]. Journal of Banking and Finance, vol. 24, pp. 1651-1679.
Corcos, A.; Eckmann, J-P.; Malaspinas, A.; Malevergne, Y. & Sornette, D. (2002). “Imitation and contrarian behaviour: hyperbolic bubbles, crashes and chaos”. [http://arxiv.org/PS_cache/cond-mat/pdf/0109/0109410v1.pdf]. Quantitative Finance, vol. 2 (4), pp. 264-281.
Behzad, Diba & Grossman, Herschel. (1988). “The Theory of Rational Bubbles in Stock Prices”. The Economic Journal, vol. 98 (392), pp. 746-754.
Caginalp, Gunduz; Porter, David & Smith, Vernon. (2000). “Momentum and Over reaction in Experimental Asset Markets”. [http://www.behaviouralfinance.net/momentum/CaPS00.pdf]. International Journal of Industrial organization, vol. 18 (1), pp.187-204.
Becker, Ralf; Fischbacher, Urs & Hens, Thorsten. (2002). “Soft landing of a Stock Market Bubble. An experimental Study”. [http://e-collection.ethbib.ethz.ch/eserv.php?pid=eth:25593&dsID=eth-25593-01.pdf]. Working Paper Series, Institute for Empirical Research in Economics, pp. 1-65.
Barner, Martin; Feri, Francesco & Plott, Charles. (2005). “On the microstructure of price determination and information aggregation with sequential and asymmetric information arrival in an experimental asset market”. [http://www.springerlink.com/content/1yq3t2ty3eq8dlau/fulltext.pdf]. Annals of Finance, vol. 1 (1), pp. 1-35.
Davis, Douglas & Holt, Charles. (1993). Experimental Economics. Princeton NJ., Ed.Princeton University Press.
Diba, Behzad & Grossman, Herschel. (1998). “The Theory of Rational Bubbles in Stock Prices”. The Economic Journal, vol. 98 (392), pp. 746-754.
Banerjee, Abhijit. (1993). “The Economics of Rumors”. [http://web.cenet.org.cn/upfile/77298.pdf]. Review of Economic Studies, 60, pp. 309-327.
Ball, Sheryl & Holt, Charles. (1998). “Speculation and Bubbles in an Asset Market”. [http://people.virginia.edu/~cah2k/bubbletr.pdf]. Journal of Economic Perspectives, vol. 12:1, pp. 207-218.
Avery, Christopher & Zemsky, Peter. (1998). “Multidimensional Uncertainty and herd behavior in Financial Markets”. The American Economic Review, vol. 88 (4), pp.724-747.
Camerer, Colin. (1992). “The Rationality of Prices and Volume in Experimental Markets”. Organizational Behavior and Human Decision Processes, vol. 51 (2), pp. 237-272.
type_driver info:eu-repo/semantics/article
type_coar http://purl.org/coar/resource_type/c_6501
type_version info:eu-repo/semantics/publishedVersion
type_coarversion http://purl.org/coar/version/c_970fb48d4fbd8a85
type_content Text
publishDate 2012-07-01
date_accessioned 2012-07-01T00:00:00Z
date_available 2012-07-01T00:00:00Z
url https://revistas.uexternado.edu.co/index.php/odeon/article/view/3698
url_doi https://revistas.uexternado.edu.co/index.php/odeon/article/view/3698
issn 1794-1113
eissn 2346-2140
url3_str_mv https://revistas.uexternado.edu.co/index.php/odeon/article/download/3698/4135
url2_str_mv https://revistas.uexternado.edu.co/index.php/odeon/article/download/3698/3828
_version_ 1797157490553520128

Código QR

Estadísticas y Métricas Alternativas

Títulos similares