Results 61 to 70 of about 56,313 (235)
When overconfident traders meet feedback traders [PDF]
, 2010 In this paper, we develop a model in which overconfident market participants and rational speculators trade against trend-chasers. We exhibit the unique linear equilibrium and assess the quality of prices according to the proportion of the different ...
Boco, Hervé +2 more
core +1 more source
Journal of Forecasting, EarlyView.ABSTRACT Most studies on inflation forecasts have studied behavioral biases, informational frictions, or external shocks in isolation, without considering how these factors jointly drive deviations from rational expectations. We therefore adopt an integrated framework that simultaneously estimates the behavioral, informational, and external ...
Belen Chocobar, Peter Claeys
wiley +1 more source
Material ESG Performance and Bid Premium in Merger and Acquisition Deals
International Journal of Finance &Economics, EarlyView.ABSTRACT This study examines the firm‐level and country‐level environmental, social, and governance (ESG) performance on bid premiums in cross‐border mergers and acquisitions (M&A) transactions. We document considerable variations in bid premiums. Higher carbon emissions are associated with higher bid premiums, suggesting that acquirers may perceive ...
Ndubuisi Ezenwa +2 more
wiley +1 more source
Effects of instruction on students’ overconfidence in introductory quantum mechanics
Physical Review Physics Education Research, 2020 Students’ ability to assess their own knowledge is an important skill in science education. However, students often overestimate their actual performances. In such cases, overconfidence bias arises.
Italo Testa +5 more
doaj +1 more source
Diagnostic error, overconfidence and self-knowledge [PDF]
, 2017 According to the overconfidence hypothesis (OH), physician overconfidence is a major factor contributing to diagnostic error in medicine. This paper argues that (OH) can be read as offering a personal, a sub-personal or a systemic explanation of ...
Cassam, Quassim
core +1 more source
International Journal of Finance &Economics, EarlyView.ABSTRACT This study investigates earnings management in European banks in the context of the 2016 EU audit directive. Using a dynamic panel of 134 banks over 2012–2023, we apply two‐step System‐GMM estimators with three profitability measures—Earnings Before Provisions and Taxes (EBPT), Return on Assets (ROA), and Return on Equity (ROE).
Maria Christofidou +3 more
wiley +1 more source
Overconfidence and market efficiency with heterogeneous agents [PDF]
We study financial markets in which both rational and overconfident agents coexist and make endogenous information acquisition decisions. We demonstrate the following irrelevance result: when a positive fraction of rational agents (endogeneously) decides
Branko Urosevic +2 more
core +3 more sources
Overconfidence and Excessive Trading Behavior: An Experimental Study [PDF]
, 2011 The main objective of the research is to examine the excessive trading hypothesis, investors who have higher overconfidence shown by high miscalibration levels will tend to practice aggresive and excessive trading strategy.
Sembel, Roy, Trinugroho, Irwan
core +1 more source
From Reactive to Proactive Volatility Modeling With Hemisphere Neural Networks
Journal of Applied Econometrics, EarlyView.ABSTRACT We revisit maximum likelihood estimation (MLE) for macroeconomic density forecasting through a novel neural network architecture with dedicated mean and variance hemispheres. Our architecture features several key ingredients making MLE work in this context.
Philippe Goulet Coulombe +2 more
wiley +1 more source
Entrepreneurial success and failure: Confidence and fallible judgement [PDF]
Excess entry – or the high failure rate of market-entry decisions – is often attributed to overconfidence exhibited by entreprene urs. We show analytically that whereas excess entry is an inevitable consequence of imperfect assessments of entrepreneurial
Natalia Karelaia, Robin Hogarth
core