Asset Price Response to New Information

The Effects of Conservatism Bias and Representativeness Heuristic

Business & Finance, Economics, Macroeconomics, Finance & Investing, Finance
Cover of the book Asset Price Response to New Information by Guo Ying Luo, Springer New York
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Author: Guo Ying Luo ISBN: 9781461493693
Publisher: Springer New York Publication: October 16, 2013
Imprint: Springer Language: English
Author: Guo Ying Luo
ISBN: 9781461493693
Publisher: Springer New York
Publication: October 16, 2013
Imprint: Springer
Language: English

Asset Price Response to New Information examines the effect of two types of psychological biases (namely, conservatism bias and representativeness heuristic) on the asset price reaction to new information. The author constructs various models of a competitive securities market or a security market allowing for strategic interaction among traders to prove rigorously that either conservatism or representativeness is capable of generating both asset price overreaction and underreaction to new information. The results shed some new insights on the phenomena of the asset price overreaction and underreaction to new information. In the literature, very little has been published in this area of behavioral finance. This volume will appeal to graduate-level students and researchers in finance, behavioral finance, and financial engineering.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Asset Price Response to New Information examines the effect of two types of psychological biases (namely, conservatism bias and representativeness heuristic) on the asset price reaction to new information. The author constructs various models of a competitive securities market or a security market allowing for strategic interaction among traders to prove rigorously that either conservatism or representativeness is capable of generating both asset price overreaction and underreaction to new information. The results shed some new insights on the phenomena of the asset price overreaction and underreaction to new information. In the literature, very little has been published in this area of behavioral finance. This volume will appeal to graduate-level students and researchers in finance, behavioral finance, and financial engineering.

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