08:35 Jan 8, 2019
Thanks! This is what he sent me. I will try and get it in Italian: For example, there are no doubts about the fact that irrational investors are essentially retailers, and yet these people, especially if they suffer from overconfidence, are prone to a hyper-activity (Guiso - Jappelli, 2006), which has a positive effect on the liquidity (and therefore on the efficiency) of systems, making the realigment of prices easier. It is therefore also for this reason that one of the problems to be solved is that of understanding what percentage of the negative effects of irrational action are compensated by positive ones, in order to understand, when the gap between the two values looks unsustainable, if we can accept proposals such as temporarily inhibiting retail activities (Dalmartello, 2013) and therefore the action of many informed investors. |