24 Jun 2016 We show that the market for baseball cards exhibits anomalies that are analogous to those that have been documented in financial markets. Cards. Engelberg, Le, and Williams. Introduction. Data. Gradual. Information. Diffusion. Disagreement. Conclusion. Stock Market Anomalies and Baseball. Cards. 7 Jul 2016 Stock Market Anomalies and Baseball Cards. We show that the market for baseball cards exhibits anomalies that are analogous to those that 

25 Apr 2018 Abstract: Baseball cards exhibit anomalies that are analogous to those that have been documented in financial markets, namely, momentum,  17 Jun 2004 influential set of laboratory experiments on “gift exchange” has provided strong evidence that Alternatively, note that the “efficiency wage “buyer” of 1990 Leaf Frank Thomas baseball cards in the experiment. Bolton, Gary E. and Axel Ockenfels (2000), “ERC–A Theory of Equity, Reciprocity, and. Our laboratory is the market for baseball cards. Baseball cards have a long history, dating all the way back to the late 1860’s (Jamieson, 2011). By 1991, sales of baseball cards reached $1.2 billion annually (Jamieson, 2011). Although baseball cards produce no cash flows, their market values can be substantial. Baseball cards exhibit anomalies that are analogous to those that are documented in financial markets, namely, momentum, price drift in the direction of past fundamental performance, and initial public offering (IPO) underperformance. Momentum is higher among active players than retired players, and among newer sets than older sets. Stock Market Anomalies and Baseball Cards We show that the market for baseball cards exhibits anomalies that are analogous to those that have been documented in financial markets, namely, momentum, price drift in the direction of past fundamental performance, and IPO under performance. Baseball cards exhibit anomalies that are analogous to those that have been documented in financial markets, namely, momentum, price drift in the direction of past fundamental performance, and IPO underperformance. Momentum profits are higher among active players than retired players, and among newer sets than older sets.

Our laboratory is the market for baseball cards. Baseball cards have a long history, dating all the way back to the late 1860’s (Jamieson, 2011). By 1991, sales of baseball cards reached $1.2 billion annually (Jamieson, 2011). Although baseball cards produce no cash flows, their market values can be substantial.

Baseball cards exhibit anomalies that are analogous to those that have been documented in financial markets, namely, momentum, price drift in the direction of past fundamental performance, and IPO underperformance. Momentum profits are higher among active players than retired players, and among newer sets than older sets. Not only does this mean you shouldn’t have all of your eggs in one basket, like the stock market, but it also means that hybrid investmen ts like trading cards are ideal. Not only are cards nostalgic and emotionally relevant, like fine art, but they’re also data-driven securities like stocks. In my research, I found that baseball cards act exactly like shares of stock. When a card company (Topps, for example) would print a particular player’s rookie card, they released shares of that Stock Market Anomalies and Baseball Cards (joint with Linh Le and Jared Williams) What it's about: We find that several stock market anomalies -- such as momentum and IPO underperformance -- also exist in the market for baseball cards. I\Stock market anomalies and baseball cards"(with Joseph Engelberg and Jared Williams) [presented at the 2017 annual meeting of the Financial Intermediation Research Society (FIRS) and the 2018 annual meeting of the American Finance As- sociation (AFA)][conditionally accepted for publication at Financial Review] This stock market madness will affect the value of cards. If the stock market continues to struggle, the cost/value of (most) cards will go down. But just as the stock market will eventually go up, so will the value of (certain) cards. If baseball card production has gone up in recent years that is great and there are quite a few hobbyists

Cards are a commodity and their price is a function of supply and demand. Generally speaking, less disposable income leads to card prices going down overall.”. On the other hand, Don Hontz, a full-time dealer for the past 40 years, remains as bullish as ever. “I have never seen a down period with cards,” he told me.

A financial market is a market in which people trade financial securities and derivatives at low Much trading of stocks takes place on an exchange; still, corporate actions (merger, spinoff) are outside Credit cards. Financial instrument · Financial market efficiency · Brownian model of financial markets · Investment theory  22 Jun 2016 Baseball cards exhibit anomalies that are analogous to those that have been documented in financial markets, namely, momentum, price drift  27 Nov 2019 Abstract Baseball cards exhibit anomalies that are analogous to those that are documented in financial markets, namely, momentum, price drift  27 Jun 2016 I still have a Ken Griffey Jr. Rookie Card. To be honest, I don't even know where the thing is, but I hope it is it worth a ton of money at this point 

“We show that the market for baseball cards exhibits anomalies that are analogous to those that have been documented in financial markets, namely momentum, price drift in the direction of past

24 Jun 2016 We show that the market for baseball cards exhibits anomalies that are analogous to those that have been documented in financial markets. Cards. Engelberg, Le, and Williams. Introduction. Data. Gradual. Information. Diffusion. Disagreement. Conclusion. Stock Market Anomalies and Baseball. Cards. 7 Jul 2016 Stock Market Anomalies and Baseball Cards. We show that the market for baseball cards exhibits anomalies that are analogous to those that  13 Jul 2016 But a new study finds that the market for baseball cards shows some of the same kinds of anomalies, or factors, as the stock market. Baseball  25 Apr 2018 Abstract: Baseball cards exhibit anomalies that are analogous to those that have been documented in financial markets, namely, momentum,  17 Jun 2004 influential set of laboratory experiments on “gift exchange” has provided strong evidence that Alternatively, note that the “efficiency wage “buyer” of 1990 Leaf Frank Thomas baseball cards in the experiment. Bolton, Gary E. and Axel Ockenfels (2000), “ERC–A Theory of Equity, Reciprocity, and.

22 Jun 2016 Baseball cards exhibit anomalies that are analogous to those that have been documented in financial markets, namely, momentum, price drift 

This stock market madness will affect the value of cards. If the stock market continues to struggle, the cost/value of (most) cards will go down. But just as the stock market will eventually go up, so will the value of (certain) cards. If baseball card production has gone up in recent years that is great and there are quite a few hobbyists

A financial market is a market in which people trade financial securities and derivatives at low Much trading of stocks takes place on an exchange; still, corporate actions (merger, spinoff) are outside Credit cards. Financial instrument · Financial market efficiency · Brownian model of financial markets · Investment theory  22 Jun 2016 Baseball cards exhibit anomalies that are analogous to those that have been documented in financial markets, namely, momentum, price drift  27 Nov 2019 Abstract Baseball cards exhibit anomalies that are analogous to those that are documented in financial markets, namely, momentum, price drift  27 Jun 2016 I still have a Ken Griffey Jr. Rookie Card. To be honest, I don't even know where the thing is, but I hope it is it worth a ton of money at this point  24 Jun 2016 We show that the market for baseball cards exhibits anomalies that are analogous to those that have been documented in financial markets. Cards. Engelberg, Le, and Williams. Introduction. Data. Gradual. Information. Diffusion. Disagreement. Conclusion. Stock Market Anomalies and Baseball. Cards.