Concentration and variability of forecasts in artificial investment games: an online experiment on WeChat

Autor:	Xiaojian Zhao, Xiu Chen, Fuhai Hong
Rok vydání:	2019
Předmět:	Microeconomics Public investment Investment decisions 0502 economics and business 05 social sciences Economics Econometrics and Finance (miscellaneous) Financial market 050206 economic theory Business 050207 economics Affect (psychology) Investment (macroeconomics)
Zdroj:	Experimental Economics. 23:815-847
ISSN:	1573-6938 1386-4157
DOI:	10.1007/s10683-019-09632-z
Popis:	This paper is the first to use the WeChat platform, one of the largest social networks, to conduct an online experiment of artificial investment games. We investigate how people’s forecasts about the financial market and investment decisions are shaped by whether they can observe others’ forecasts and whether they engage in public or private investment decisions. We find that with forecast sharing, subjects’ forecasts converge but in different directions across groups; consequently, forecast sharing does not lead to better forecasts nor more individually rational investment decisions. Whether or not subjects engage in public investment decisions does not significantly affect forecasts or investment.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::bf7eee962e9c67eab152246cb3e5de8c https://doi.org/10.1007/s10683-019-09632-z Zobrazit plný text záznamu Full text from SpringerLink