Thesis (Ph. D.)--Columbia University, 1926. / Without thesis note.

Thesis (Ph. D.)--University of Wisconsin--Madison, 1972. / Typescript. Vita. eContent provider-neutral record in process. Description based on print version record. Includes bibliographical references.

Thesis (Ph. D.)--University of Chicago, Dept. of Economics, June 1997. / Includes bibliographical references. Also available on the Internet.

Thesis (Ph. D.)--University of Texas at Austin, 2005. / Vita. Includes bibliographical references.

No description available.

Thesis (Ph. D.)--University of Chicago, Dept. of Economics, March 2001. / Includes bibliographical references. Also available on the Internet.

The recent financial crisis highlights the importance of understanding factors that affect financial market price efficiency. Experimental methods allow us to control the intrinsic value of an asset, thus become an attractive technique for studying asset market price efficiency. This dissertation consist three essays, all of which devoted to experimental asset markets. The first essay explores the role of liquidity on the mispricing of an asset. This issue has been the subject of Kirchler et al. (2012) AER paper. By re-analysing the evidence in that article, the first essay concluded that their experimental design have a weakness that biased the results. Therefore, I designed an experiment that eliminates the weakness. The results of my experiment indicate that Constant C/A ratio could reduce mispricing of experimental asset market significantly, but not necessary to lead to undervaluation. The second essay explores how the description of the asset market to the human participants influences the mispricing of the asset being traded. This issue has been the subject of Kirchler et al. (2012) AER paper. When re-assessing the evidence, I was puzzled by the findings and thought that the small sample size of the dataset collected might explain why a minor change to the description of the asset market provided to the participants produced completely different behaviour. This essay replicates the experiment, with a larger sample size and relies on different statistical tests to analyse the data. I find that the treatment with a different contest (“stocks of a depletable of gold mine”) exhibits similar level of mispricing and overvaluation with the baseline treatment., which is not consistent with Kirchler et al. (2012). The third essay is about an experiment that compares how team decision-making vs. individual decision-making differ in how they influence the mispricing of the asset being traded. The main result is that team decision-making does not result in smaller price bubbles. However team decision-making result in less variance among markets (sessions). Further more, my experimental design allows us to record the chat dialogues, which enable us to have insight into team decision-making. The content of the messages allows us explore the reasons behind traders' asks and bids.

京都大学 / 0048 / 新制・課程博士 / 博士(経済学) / 甲第22625号 / 経博第617号 / 新制||経||293(附属図書館) / 京都大学大学院経済学研究科経済学専攻 / (主査)教授 新後閑 禎, 教授 柴田 章久, 准教授 高橋 修平 / 学位規則第4条第1項該当 / Doctor of Economics / Kyoto University / DGAM

No description available.

The first essay intends to answer the following questions: "Has China's economic growth become less volatile in the reform period?" and if it is the case, "What are the sources behind the increasing macroeconomic stability?" The answer to the first question is yes. Using the quarterly data of China, this paper provides robust evidence of the existence of a structural break or regime shift in the variance of the GDP growth process (most likely in 1992 and 1993). Employing decomposition methods from different perspectives, this essay attributes the significant decline in aggregate output volatility to the following factors: the increasing stability of labor productivity growth and TFP growth at the aggregate level, the declined volatility of value-added growth at the sectoral level, the increasing stability of consumption growth and investment growth from the demand side, and the decrease in the covariances between provincial growth contributions from the regional economic perspective. / The second essay attempts to examine the underlying factors accounting for the volatility of China's economic growth. It particularly highlights the role of investment policy volatility in explaining output volatility. The results suggest that investment policy volatility amplifies the growth volatility, whereas fiscal policy volatility has no significant effect. Government size and investment share have opposite, albeit not always significant, influences on growth volatility. The main findings are robust to the inclusion of additional controls, the substitution of initial values for the mean values of control variables, and the alternative estimation specifications of policy volatilities. It suggests that the decline in investment policy volatility accounts for a significant part of the increasing stability of China's economic growth, and that stable policies and a better institutional environment are crucial in sustaining the macroeconomic stability of China. / This thesis consists of three essays, and discusses several issues about volatility, growth and development in the context of the Chinese economy. / Unlike the conventional wisdom that growth and volatility correlate negatively across countries, the third essay finds a significant and positive growth-volatility link across Chinese provinces in the reform period. This link remains significant and positive in several robustness tests. Further analyses from disaggregate perspectives find that the output volatility is correlated with rural consumption growth and urban consumption growth negatively and positively, respectively. At the sectoral level, more volatile sectors command higher investment rate and higher value-added growth. This essay also finds that the expected volatility has positive effect on growth, while both fiscal and investment policy volatilities are significantly harmful to economic growth. However, the significances of policy volatilities vanish once expected volatility is included in the analysis. It partly confirms the analytical argument that the growth-volatility link in China is mainly driven by the positive volatility component. Moreover, a stable policy environment is vital to the economic growth of China despite a positive aggregate growth-volatility link. / pt. 1. Has the Chinese economy become less volatile? structural break detection and volatility decomposition -- pt. 2. What accounts for the volatility of China's economy growth -- pt. 3. On the link between growth and volatility: evidence from China. / Zhang, Ning. / Adviser: Junsen Zhang. / Source: Dissertation Abstracts International, Volume: 73-09(E), Section: A. / Thesis (Ph.D.)--Chinese University of Hong Kong, 2011. / Includes bibliographical references (leaves 255-260). / Electronic reproduction. Hong Kong : Chinese University of Hong Kong, [2012] System requirements: Adobe Acrobat Reader. Available via World Wide Web. / Electronic reproduction. Ann Arbor, MI : ProQuest dissertations and theses, [200-] System requirements: Adobe Acrobat Reader. Available via World Wide Web. / Abstract also in Chinese.