Working Papers-
WP20160001 Concentration and Unpredictability of Forecasts in Artificial Investment Games
xjzhao81@gmail.com
This paper investigates how people’s forecasts about financial market are shaped by the environment .By recruiting 1385 subjects on WeChat, one of the largest social media, we conduct an online experiment of artificial investment games. We find that subjects’ forecasts significantly converge when shared, though in different directions across groups. We also observe a strong positive correlation between forecasts and investments, suggesting that an individual’s reported forecast is associated with his belief. -
WP20140001 Financial Development in Qianhai: Opportunities and Challenges
info@qiir.org
Qianhai in the western part of Nanshan Peninsula of the Shenzhen Special Economic Zone with an area of 15 sq. kilometers is located at the geographic centre of the Pearl River Delta. The concept of Qianhai was conceived in as early as 2005/2006 in the context of a new economic development model for China. Despite China’s high rate of economic growth in the past 20 years, its economic structure remains underdeveloped with a relatively small modern service sector.