| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5911 |
| DP5911 Merger Negotiations and Ex-Post Regret | |
| Armin Schmutzler; Dennis Gärtner | |
| 发表日期 | 2006-10-29 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | We explore the business cycle implications of expectation shocks and of two well-known psychological biases, optimism and overconfidence. The expectations of optimistic agents are biased toward good outcomes, while overconfident agents overestimate the precision of the signals that they receive. Both expectation shocks and overconfidence can increase business-cycle volatility, while preserving the model's properties in terms of comovement, and relative volatilities. In contrast, optimism is not a useful source of volatility in our model. |
| 主题 | International Macroeconomics |
| 关键词 | Business cycles Overconfidence Optimism Expectations |
| URL | https://cepr.org/publications/dp5911 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534749 |
| 推荐引用方式 GB/T 7714 | Armin Schmutzler,Dennis Gärtner. DP5911 Merger Negotiations and Ex-Post Regret. 2006. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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