[VCEE Seminar] VCEE Seminar - Invitation

[Mailing list of the VCEE seminar series]

Dear members and friends of the VCEE,
You are invited to attend the VCEE seminar on Friday, March 17, 2023, from 10:30 to 12:00 hrs Vienna time. The seminar takes place in VGSE Room (3rd Floor, room 03.307) at Oskar-Morgenstern-Platz 1 (no streaming).
 We will have one speaker: Frederik Schwerter (U Cologne)
 Here is more information about the talk:
 Title: " Associative Memory and Belief Formation", der Abstract:
Recent theoretical models and popular narratives highlight the potential role of associative recall in driving overreaction in expectations and market behavior.
Based on a simple model, we test this idea through a series of belief updating and financial market experiments in which news are communicated with memorable
stories and images. Because participants predominantly remember those past news that get cued by the current one, their beliefs about fundamentals strongly overre-
act to news and exhibit systematic history-dependence that is absent in economic models without associative memory. In a betting market experiment, associative
recall translates into overreaction in market prices, which makes realized prices too extreme. Associations-driven overreaction in prices and beliefs is quantitatively
very similar, which suggests that people who are more prone to associative recall do not bet less aggressively. Overall, our results highlight the importance of associative
memory for the formation of beliefs and resulting economic decisions.
If you are interested in meeting Frederik Schwerter after the seminar (meeting slots of 30', room no 05.330) please register via this link:
https://nuudel.digitalcourage.de/XORgPTdve3JQjucx


Mit freundlichen Grüßen, / Best regards,
Verena Klemm-Abraham


[6B6AFF4]

Universität Wien - Fakultät für Wirtschaftswissenschaften
Institut für Volkswirtschaft
Oskar-Morgenstern-Platz 1
A-1090 Wien
T: +43-1-4277 37402
Room/Zimmer: 05.312

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