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dc.contributor.authorARGENTESI, Elena
dc.contributor.authorLUETKEPOHL, Helmut
dc.contributor.authorMOTTA, Massimo
dc.date.accessioned2006-12-06T17:19:58Z
dc.date.available2006-12-06T17:19:58Z
dc.date.issued2006
dc.identifier.issn1725-6704
dc.identifier.urihttp://hdl.handle.net/1814/6395
dc.description.abstractThis 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.extent272059 bytes
dc.format.mimetypeapplication/pdf
dc.language.isoenen
dc.publisherEuropean University Institute
dc.relation.ispartofseriesEUI ECOen
dc.relation.ispartofseries2006/32en
dc.rightsinfo:eu-repo/semantics/openAccess
dc.titleAcquisition of Information and Share Prices: An Empirical Investigation of Cognitive Dissonanceen
dc.typeWorking Paperen
dc.neeo.contributorARGENTESI|Elena|aut|
dc.neeo.contributorLUETKEPOHL|Helmut|aut|EUI70007
dc.neeo.contributorMOTTA|Massimo|aut|
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