兼松セミナー（六甲台セオリーセミナー共催） Kanematsu Seminar (Jointly Supported by: Rokkodai Theory Seminar)
| 日時 | 2013年7月29日（月）午後3時10分から |
|---|---|
| 会場 | 神戸大学経済経営研究所 会議室（新館2階） |
| 対象 | 教員、院生、学部生、および同等の知識をお持ちの方 |
| 使用言語 | 英語 |
| 備考 | 論文のコピーは共同研究推進室にご用意しております。 |
3:10pm～4:40pm
| 報告者 | 花木 伸行 |
|---|---|
| 所属 | エクス・マルセイユ大学経済学部 |
| 論題 | Strategic Uncertainty in an Experimental Asset Market (Joint work with Eizo Akiyama and Ryuichiro Ishikawa) |
| 要旨 | We investigate to what extent the deviation of forecast prices from the fundamental values (FVs) in experimental asset markets is caused by strategic uncertainty (uncertainty about others behavior) and by individual bounded rationality (or confusion). We have compared the initial, as well as subsequent, forecast prices submitted by subjects in two call market environments a la Haruvy et. al. (2007) -- one where all six traders are human subjects (6H), and the other where one human subject is interacting with five computer traders who submit orders at the fundamental values (1H5C). Subjects in the latter environments are all told how computer traders behave and the fact that other traders in their markets are computer traders. Our analysis shows that about 1/3 of the median initial forecast deviation from the fundamental values is due to strategic uncertainty and remaining 2/3 are due to individual bounded rationality. |