In the final article of our five - part series, we feature Fritz Demopoulos, who seems to most closely define what it means to achieve the American Dream in China. Fritz is a bit of a rebel. Quitting his gravy job wit...In the final article of our five - part series, we feature Fritz Demopoulos, who seems to most closely define what it means to achieve the American Dream in China. Fritz is a bit of a rebel. Quitting his gravy job with New s C o rp., he stru ck out like his European and now Ameri c a n parents to build something of his own. But compared to the life they built—three kids, a couple of cars, a house and a bu s i n e s s — Fritz doesn’t see his American Dream the same way.While we couldn’t pin him down on exact...展开更多
This paper explores some behavioral factors that may explain the formation of speculative bubbles in financial markets. The study adopts an experimental approach focused on the agents’ behavior when facing a “true...This paper explores some behavioral factors that may explain the formation of speculative bubbles in financial markets. The study adopts an experimental approach focused on the agents’ behavior when facing a “true” bubble and is incentivized to herd and/or receive information about the market sentiment. For this purpose, a straightforward laboratory experiment that reproduces the dotcom market bubble and asks subjects to forecast asset prices in a true dynamic information scenario. The experiment was conducted in the laboratory of the Faculty of Economics at the University of Salamanca and involved 137 undergraduate students in the degree of economics. The results show that incentives to the herding behavior increase the forecasted volatility and thus contribute to the bubble inflation. Nevertheless, this effect may be offset by giving information to the agents about the expected market trend. Therefore, under herding effects, it is the absence of clear signals about market sentiments what inflates the bubble.展开更多
Dotcom泡沫最丰盛的时候，那些公司都喜欢这句话：Go big or go home（要么做大要么回家）。类似的还有“大者恒大”、“赢家通吃”、“只有第一没有第二”，等等。这些说法至少在客观上，给烧钱提供了充足的依据，让它看起来颇光鲜，...Dotcom泡沫最丰盛的时候，那些公司都喜欢这句话：Go big or go home（要么做大要么回家）。类似的还有“大者恒大”、“赢家通吃”、“只有第一没有第二”，等等。这些说法至少在客观上，给烧钱提供了充足的依据，让它看起来颇光鲜，颇气壮山河。老榕同志曾说，8848明天就可以赢利，只要停掉广告就行了，之所以不这么做，是为了3年以后赚更多的钱。事实上，话音未落，8848就基本黄了。展开更多
文摘In the final article of our five - part series, we feature Fritz Demopoulos, who seems to most closely define what it means to achieve the American Dream in China. Fritz is a bit of a rebel. Quitting his gravy job with New s C o rp., he stru ck out like his European and now Ameri c a n parents to build something of his own. But compared to the life they built—three kids, a couple of cars, a house and a bu s i n e s s — Fritz doesn’t see his American Dream the same way.While we couldn’t pin him down on exact...
文摘This paper explores some behavioral factors that may explain the formation of speculative bubbles in financial markets. The study adopts an experimental approach focused on the agents’ behavior when facing a “true” bubble and is incentivized to herd and/or receive information about the market sentiment. For this purpose, a straightforward laboratory experiment that reproduces the dotcom market bubble and asks subjects to forecast asset prices in a true dynamic information scenario. The experiment was conducted in the laboratory of the Faculty of Economics at the University of Salamanca and involved 137 undergraduate students in the degree of economics. The results show that incentives to the herding behavior increase the forecasted volatility and thus contribute to the bubble inflation. Nevertheless, this effect may be offset by giving information to the agents about the expected market trend. Therefore, under herding effects, it is the absence of clear signals about market sentiments what inflates the bubble.
文摘Dotcom泡沫最丰盛的时候，那些公司都喜欢这句话：Go big or go home（要么做大要么回家）。类似的还有“大者恒大”、“赢家通吃”、“只有第一没有第二”，等等。这些说法至少在客观上，给烧钱提供了充足的依据，让它看起来颇光鲜，颇气壮山河。老榕同志曾说，8848明天就可以赢利，只要停掉广告就行了，之所以不这么做，是为了3年以后赚更多的钱。事实上，话音未落，8848就基本黄了。
