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Asymmetric participation in China's stamp market: hobbyists and investors

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  • Shaomin Huang

Abstract

China'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.

Suggested Citation

  • Shaomin Huang, 2001. "Asymmetric participation in China's stamp market: hobbyists and investors," Applied Economics, Taylor & Francis Journals, vol. 33(8), pages 1039-1044.
  • Handle: RePEc:taf:applec:v:33:y:2001:i:8:p:1039-1044
    DOI: 10.1080/00036840122444
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    Cited by:

    1. 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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