Asset price response to new information [electronic resource] : the effects of conservatism bias and representativeness heuristic / Guo Ying Luo.

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Asset price response to new information [electronic resource] : the effects of conservatism bias and representativeness heuristic / Guo Ying Luo.

9781461493693 electronic book
1461493692 electronic book
9781461493686

New York : Springer, 2014.

English

1 online resource (vii, 70 pages).

10.1007/978-1-4614-9369-3 doi

HB74.P8

330.01/9

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.

Includes bibliographical references.

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Description based on online resource; title from PDF title page (SpringerLink, viewed October 21, 2013).

SpringerBriefs in finance.

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