Asymmetric participation in China's stamp market: hobbyists and investors
AbstractChina's stamp market has expanded rapidly in the last two decades. Stamp trading has become very profitable. Both hobbyists and investors are more interested in newly released stamps. This study shows that the value of newly issued stamps appreciates faster than the value of older issued stamps. This effect is caused by the asymmetric participation in stamp collection between hobbyists and investors.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics.
Volume (Year): 33 (2001)
Issue (Month): 8 ()
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- Xin Chen & Xian Chen, 2012. "Stamp characteristics and long-term return after issuance: evidence from new China stamps," China Finance Review International, Emerald Group Publishing, vol. 2(2), pages 351-376, August.
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