Short sale constraints, divergence of opinion and asset prices: Evidence from the laboratory
Journal of Economic Behavior & Organization(2014)
摘要
•We study the effect of short selling restrictions on asset prices in a series of market experiments.•Asset prices are higher when short selling constraints are imposed.•Variations of the degree of divergence of opinion do not appear to affect price levels.•Short selling constraints reduce trading volume and tend to increase bid-ask spreads.
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关键词
C92,G14
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