...Wei Jiang; Pupu Luan; Chunpeng Yang Purpose – The purpose of this paper is to research and analyze the price of gold futures based on heterogeneous investors' overconfidence. Design/methodology/approach – This paper divides the traders of gold futures market into two kinds: the speculators...

...Tian Liang Purpose The purpose of this paper is to examine the implications of overconfidence for information acquisition and market efficiency. Design/methodology/approach The paper studies a model of a competitive market with both overconfident and rational traders endogenously acquiring...