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CAIRO BOOKS's Description
On the trading floor, all action is based on news, therefore rumors in
financial markets are an everyday phenomenon. Rumors are the oldest mass medium
in the world and their nature is still difficult to grasp. Scientifically, not
much is known about rumors, especially in the financial markets, where their
consequences can have real money consequences. Rumors in Financial Markets
provides a fresh insight to the topic, combining the theory of Behavioral
Finance with that of Experimental Finance--a new and innovative scientific
method which observes real decision makers in a controlled, clearly structured
environment. Using the results from surveys and experiments, the author argues
that rumors in the context of financial markets are built on three
cornerstones: Finance, Psychology and Sociology. The book provides insights
into how rumors evolve, spread and are traded on and provides explanations as
to why volatility rockets, strong price movements, herding behavior for
example, occur for apparently no good reason.