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Trading and Cognition in Asset Markets: An Eye-tracking Experiment

Author

Listed:
  • Camille Cornand

    (GATE Lyon Saint-Étienne - Groupe d'Analyse et de Théorie Economique Lyon - Saint-Etienne - UL2 - Université Lumière - Lyon 2 - UJM - Université Jean Monnet - Saint-Étienne - EM - EMLyon Business School - CNRS - Centre National de la Recherche Scientifique)

  • Maria Erazo Diaz

    (Université de Bologne)

  • Adam Zylbersztejn

    (GATE Lyon Saint-Étienne - Groupe d'Analyse et de Théorie Economique Lyon - Saint-Etienne - UL2 - Université Lumière - Lyon 2 - UJM - Université Jean Monnet - Saint-Étienne - EM - EMLyon Business School - CNRS - Centre National de la Recherche Scientifique)

Abstract

We use an experimental asset market with eye-tracker measurements for a novel exploration of the cognitive validity of a classic heterogeneous trader taxonomy. Following a top-down approach, we assume that the patterns of information acquisition are governed by one of the three trading strategies, either feedback, passive, or speculative. In line with our first hypothesis, speculators seek information about market expectations. Notwithstanding the two other hypotheses, feedback traders reveal patterns of information acquisition that could ex ante be expected from passive traders, and vice versa.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Camille Cornand & Maria Erazo Diaz & Adam Zylbersztejn, 2023. "Trading and Cognition in Asset Markets: An Eye-tracking Experiment," Post-Print hal-04693701, HAL.
    • Handle: RePEc:hal:journl:hal-04693701
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    JEL classification:

    • C92 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Group Behavior
    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets

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