TY  - CHAP
A1  - König, Frederik
T1  - Does social interaction destabilise financial markets?
T2  - Soziale Interaktion auf Finanzmärkten
N2  - With this paper, I propose a simple asset pricing model that accounts for the influence from social interaction. Investors are assumed to make up their mind about an asset's price based on a forecasting strategy and its past profitability as well as on the contemporaneous expectations of other market participants. Empirically analysing stocks in the DAX30 index, I provide evidence that social interaction rather destabilises financial markets. At least, it does not have a stabilising effect.
KW  - (De-)stabilisation
KW  - Asset Pricing
KW  - Social Interaction
Y1  - 2013
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/30071
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-300718
N1  - Bestandteil der kumulativen Dissertation "Soziale Interaktion auf Finanzmärkten" Johann Wolfgang Goethe-Univ. Frankfurt am Main, 2013. Aktualisierte Fassung der Version http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2133960
SP  - 31
EP  - 69
PB  - Univ.-Bibliothek
CY  - Frankfurt am Main
ER  -