论坛时间：2021年11月18日（周四）14:00（下午）

论坛地点：

线下：经济乐动(中国)（6号乐动(中国)楼）210会议室

线上：腾讯会议ID 616 922 299

主持人：罗俊（副院长）

讲座主题：Information Ambiguity, Market Institutions and Asset Prices: Experimental Evidence

内容提要：We explore how information ambiguity and traders’ attitudes toward ambiguity affect expectations and asset prices under three different market institutions. Specifically, we test the prediction of Epstein and Schneider (2008) that information ambiguity will lead market prices to overreact to bad news and to underreact to good news. We find that such an asymmetric reaction exists and is strongest in individual prediction markets. It occurs to a lesser extent in single price call markets. It is weakest of all in double auction markets, where buyers’ asymmetric reaction to good/bad news is cancelled out by the opposite asymmetric reaction of sellers.

嘉宾简介：Te Bao (包特) is  the professor of economics at the School of Social Sciences, Nanyang Technological University, Singapore. He obtained his Ph.D in Economics in 2012 from CeNDEF, University of Amsterdam. His research interest includes experimental economics, behavioral finance and real estate economics. His works are published in Economic Journal, European Economic Review, Experimental Economics, Journal of Economic Behavior and Organization and Journal of Economic Dynamics and Control.

论坛主办：乐动

论坛协办：乐动研究生会学术部