dc.contributor.author | ARGENTESI, Elena | |
dc.contributor.author | LUETKEPOHL, Helmut | |
dc.contributor.author | MOTTA, Massimo | |
dc.date.accessioned | 2006-12-06T17:19:58Z | |
dc.date.available | 2006-12-06T17:19:58Z | |
dc.date.issued | 2006 | |
dc.identifier.issn | 1725-6704 | |
dc.identifier.uri | https://hdl.handle.net/1814/6395 | |
dc.description.abstract | This paper deals with the determinants of agents’ acquisition of information.
Our econometric evidence shows that the general index of Italian
share-prices and the series of Italy’s financial newspaper sales are cointegrated,
and the former series Granger-causes the latter, thereby giving
support to the cognitive dissonance hypothesis: (non-professional) agents
tend to buy the newspaper when share prices are high and not to buy
it when share prices are low. Instead, we do not find support for the
hypothesis that the agents acquire information in order to trade in the
stock-market: we find no relationship between quantities exchanged in
the market and newspaper sales, nor between stock market volatility and
newspaper sales. | en |
dc.format.extent | 272059 bytes | |
dc.format.mimetype | application/pdf | |
dc.language.iso | en | en |
dc.publisher | European University Institute | |
dc.relation.ispartofseries | EUI ECO | en |
dc.relation.ispartofseries | 2006/32 | en |
dc.rights | info:eu-repo/semantics/openAccess | |
dc.title | Acquisition of Information and Share Prices: An Empirical Investigation of Cognitive Dissonance | en |
dc.type | Working Paper | en |
dc.neeo.contributor | ARGENTESI|Elena|aut| | |
dc.neeo.contributor | LUETKEPOHL|Helmut|aut|EUI70007 | |
dc.neeo.contributor | MOTTA|Massimo|aut| | |
eui.subscribe.skip | true | |