Dictionary of Arguments

Screenshot Tabelle Begriffe

 
Author Item Summary Meta data
I 320
Stock Market/Information/Communication/Knowledge/Surowiecki: Keynes compares the stock market with a beauty contest in which everyone tries to find out what the average person thinks is what other average people think is beautiful.
Surowiecki: but you have to add that there is only a chance to find out the prettiest girl if some participants really think about which one is the prettiest.
I 321
Behavior: the temptation to behave according to the image of others is almost irresistible. When investors mimic each other, the wisdom of the group as a whole falls. Some information might make things worse. The stock market bubble of the 1990s coincided with an explosive increase in financial news.
I 324
Paul Andreassen showed with students at the MIT (1) how a group with additional current information about stocks performed worse than a peer group without this information.
Andreassen suspects that newspaper reports play up the importance of every single message, which leads to overreactions.
Surowiecki: the problem of the overvaluation of news escalates when it reaches all market participants.

1. Paul Andreassen, »On the Social Psychology of the Stock Market – Aggregate Attributional Effects and the Regressiveness of Predictions«, Journal of Personality and Social Psychology 53/1987, S. 490-498.


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Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution.
The note [Author1]Vs[Author2] or [Author]Vs[term] is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.

Surowi I
James Surowiecki
Die Weisheit der Vielen: Warum Gruppen klüger sind als Einzelne und wie wir das kollektive Wissen für unser wirtschaftliches, soziales und politisches Handeln nutzen können München 2005


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Ed. Martin Schulz, access date 2019-04-25
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