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8 results on '"Ackert, Lucy F."'

7. The Origins of Bubbles in Laboratory Asset Markets.

Author

Ackert, Lucy F., Charupat, Narat, Deaves, Richard, and Kluger, Brian D.

Subjects
*LABORATORIES, *SPECULATIVE development, *ASSETS (Accounting), *PROBABILITY theory, *INDUSTRIAL organization (Economic theory), *ECONOMICS, *DIVIDENDS, *BUSINESS enterprises, *STOCKHOLDERS
Abstract

In twelve sessions conducted in a typical bubble-generating experimental environment, we design a pair of assets that can detect both irrationality and speculative behavior. The specific form of irrationality we investigate is probability judgment error associated with low-probability, high-payoff outcomes. Independently, we test for speculation by comparing prices of identically paying assets in multiperiod versus single-period markets. When these tests indicate the presence of probability judgment error and speculation, bubbles are more likely to occur. This finding suggests that both factors are important bubble drivers. [ABSTRACT FROM AUTHOR]

Published
2006

8. An Empirical Examination of the Price-Dividend Relation with Dividend Management.

Author

Ackert, Lucy F. and Hunter, William C.

Subjects
STOCK prices, DIVIDENDS
Abstract

Examines the relationship between stock price and cash dividends. How the intrinsic value of a firm's shares is obtained under the present-value model; Relationship between actual stock price and the predicted stock price; Effect of dividend management by firms on the relationship between prices and dividends.

Published
2001
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