Fiche du document
2019
- handle: 10670/1.wc2il0
- hal: hal-02278885
- doi: 10.1016/j.jedc.2019.103734
- PII: S0165-1889(19)30133-2
- WOS: 000491304000009
Ce document est lié à :
info:eu-repo/semantics/altIdentifier/doi/10.1016/j.jedc.2019.103734
http://creativecommons.org/licenses/by-nc/ , info:eu-repo/semantics/OpenAccess
Sujets proches
Borrowing Lending Loans for consumption BorrowingCiter ce document
Sébastien Duchêne et al., « The effect of short selling and borrowing on market prices and traders’ behavior », Archive Ouverte d'INRAE, ID : 10.1016/j.jedc.2019.103734
Métriques
Partage / Export
Résumé
This paper studies the influence of allowing borrowing and short selling on market prices and traders’ forecasts in an experimental asset market. We verify, although not statistically significantly so, that borrowing tends to increase asset overvaluation and price orecasts, while short selling tends to reduce these measures. We also show that a number of results on beliefs, traders’ types, cognitive sophistication, and earnings obtained in earlier experimental studies in which borrowing and short selling are not possible, generalize to markets with borrowing and short sales.