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Rocco Caferra
Universitat Jaume I, Spain

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Short communication
Published: 03 June 2021 in Economics Letters
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This paper aims to shed light on the 2017 Bitcoin bubble. Firstly, by applying the dynamic time warping algorithm, we identify among several financial instruments a subsample of five assets with similar characteristics to the cryptocurrency bubble. Interestingly, among the fluctuations characterizing these assets, the algorithm shows a close affinity between the Bitcoin bubble and the 2000 NASDAQ Dotcom one. Once the subsample is identified, we study the (de)synchronization among these assets via the wavelet coherence approach. Although Bitcoin is poorly correlated with the other indices, given its scarce connection with the real economy, we observe switching phenomena among these instruments. A more careful study on these portfolio reallocations, conducted via an event study analysis, reveals that traders seem to redirect capital from stock markets and gold to Bitcoin in case of positive events of the cryptocurrency.

ACS Style

Rocco Caferra; Gabriele Tedeschi; Andrea Morone. Bitcoin: Bubble that bursts or Gold that glitters? Economics Letters 2021, 205, 109942 .

AMA Style

Rocco Caferra, Gabriele Tedeschi, Andrea Morone. Bitcoin: Bubble that bursts or Gold that glitters? Economics Letters. 2021; 205 ():109942.

Chicago/Turabian Style

Rocco Caferra; Gabriele Tedeschi; Andrea Morone. 2021. "Bitcoin: Bubble that bursts or Gold that glitters?" Economics Letters 205, no. : 109942.

Article
Published: 04 April 2021 in Theory and Decision
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This work aims to identify and quantify the biases behind the anomalous behavior of people when they deal with the Three Doors dilemma, which is a really simple but counterintuitive game. Carrying out an artefactual field experiment and proposing eight different treatments to isolate the anomalies, we provide new interesting experimental evidence on the reasons why subjects fail to take the optimal decision. According to the experimental results, we are able to quantify the size and the impact of three main biases that explain the anomalous behavior of participants: Bayesian updating, illusion of control and status quo bias.

ACS Style

Andrea Morone; Rocco Caferra; Alessia Casamassima; Alessandro Cascavilla; Paola Tiranzoni. Three doors anomaly, “should I stay, or should I go”: an artefactual field experiment. Theory and Decision 2021, 1 -20.

AMA Style

Andrea Morone, Rocco Caferra, Alessia Casamassima, Alessandro Cascavilla, Paola Tiranzoni. Three doors anomaly, “should I stay, or should I go”: an artefactual field experiment. Theory and Decision. 2021; ():1-20.

Chicago/Turabian Style

Andrea Morone; Rocco Caferra; Alessia Casamassima; Alessandro Cascavilla; Paola Tiranzoni. 2021. "Three doors anomaly, “should I stay, or should I go”: an artefactual field experiment." Theory and Decision , no. : 1-20.

Short communication
Published: 30 September 2020 in Journal of Behavioral and Experimental Finance
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This paper aims at investigating the relationship between news-driven sentiments and the convergence of behavior in cryptocurrencies market, contributing to the existing literature in the field. The novelty stands in the relation set between the tone of news and returns dispersion. The average daily sentiment score deriving from a worldwide online news dataset has been exploited as a proxy of market humor, in the attempt to identify how emotions spread by the press are related to traders’ actions. By employing both Cross-sectional standard (CSSD) and absolute (CSAD) deviation, it is found that the rises and falls of optimism shape returns variability. Indeed, the paper evidences how an increase of news positivity is associated with a lower returns dispersion, evidencing the convergence of beliefs among investors.

ACS Style

Rocco Caferra. Good vibes only: The crypto-optimistic behavior. Journal of Behavioral and Experimental Finance 2020, 28, 100407 -100407.

AMA Style

Rocco Caferra. Good vibes only: The crypto-optimistic behavior. Journal of Behavioral and Experimental Finance. 2020; 28 ():100407-100407.

Chicago/Turabian Style

Rocco Caferra. 2020. "Good vibes only: The crypto-optimistic behavior." Journal of Behavioral and Experimental Finance 28, no. : 100407-100407.

Journal article
Published: 25 September 2020 in Sustainability
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This paper analyzes the causes and effects of the COVID-19 crisis, with a specific focus on the food system. Food consumption and production has not only been impacted by the crisis, but it may have also contributed to causing the pandemic. After providing a brief introductory framework, the paper presents the results of a pilot study on the link between COVID-19 and the food system, as indicated by the social media activity of selected European Union (EU) Twitter accounts, measured using an original “theme popularity” metric. Thereafter, a systematic review of the literature is proposed to identify the causes of the rise in popularity of a sustainable food system theme, the potential consequences of the COVID-19 crisis for the food system (targeting the production, consumption and waste disposal phases) and possible solutions, focusing on the circular economy. Challenges and opportunities for policymakers in the short and long term are discussed. A holistic approach is advocated, as the global food system is intimately connected with society and requires deep cooperation among nation states and economic actors.

ACS Style

Fabio Giudice; Rocco Caferra; Piergiuseppe Morone. COVID-19, the Food System and the Circular Economy: Challenges and Opportunities. Sustainability 2020, 12, 7939 .

AMA Style

Fabio Giudice, Rocco Caferra, Piergiuseppe Morone. COVID-19, the Food System and the Circular Economy: Challenges and Opportunities. Sustainability. 2020; 12 (19):7939.

Chicago/Turabian Style

Fabio Giudice; Rocco Caferra; Piergiuseppe Morone. 2020. "COVID-19, the Food System and the Circular Economy: Challenges and Opportunities." Sustainability 12, no. 19: 7939.

Journal article
Published: 17 July 2020 in Journal of Behavioral and Experimental Economics
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The purpose of this paper is to examine the effects on welfare distribution of quality and quantity of information among traders in laboratory financial markets. Results lead us to conclude that signal accuracy matters in underpinning inequality distribution. Generally, there is evidence that high quality signals produce lower inequality. However, by analyzing tail behavior, there seems to be cases of overconfidence in high quality signals generating "extra" level of inequality.

ACS Style

Andrea Morone; Rocco Caferra. Inequalities in financial markets: Evidences from a laboratory experiment. Journal of Behavioral and Experimental Economics 2020, 88, 101584 .

AMA Style

Andrea Morone, Rocco Caferra. Inequalities in financial markets: Evidences from a laboratory experiment. Journal of Behavioral and Experimental Economics. 2020; 88 ():101584.

Chicago/Turabian Style

Andrea Morone; Rocco Caferra. 2020. "Inequalities in financial markets: Evidences from a laboratory experiment." Journal of Behavioral and Experimental Economics 88, no. : 101584.