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

Camille Cornand, Maria Alejandra Erazo Diaz () and Adam Zylbersztejn ()
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Maria Alejandra Erazo Diaz: 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
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

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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 attention and 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 attention and information acquisition that could ex ante be expected from passive traders, and vice versa.

Keywords: Experiment; Asset market; Attention; Information acquisition; Eye-tracking (search for similar items in EconPapers)
Date: 2023-04-19
New Economics Papers: this item is included in nep-des, nep-exp and nep-neu
Note: View the original document on HAL open archive server: https://hal.science/hal-04074298v1
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Journal Article: Trading and cognition in asset markets: An eye-tracking experiment (2023)
Working Paper: Trading and Cognition in Asset Markets: An Eye-tracking Experiment (2023)
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