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  • 1 University of Pécs Faculty of Economics Pécs Hungary
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In this study I make an effort to prove that market price signals are less subject to individual behavioural distortion than those sharing the idea of prevailing irrational investor behaviour, and that intrinsic value plays a major role in the market price. With stock market bubbles, the balance between market and intrinsic value temporarily splits: during a crisis many stocks become overvalued, their prices being higher than their intrinsic value. Furthermore, among the reasons for market anomalies short-termism can be mentioned which indirectly leads to misjudgement of the underlying risk as investors pay less attention to low probability outcomes.

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Editor-in-chief: Balázs SZENT-IVÁNYI

Co-Editors:

  • Péter MARTON (Corvinus University, Budapest)
  • István KÓNYA (Corvinus University, Budapest)
  • László SAJTOS (The University of Auckland)
  • Gábor VIRÁG (University of Toronto)

Associate Editors:

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  • Sándor BOZÓKI (Corvinus University Budapest)
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  • Zsolt DARVAS (Bruegel)
  • Szabina FODOR (Corvinus University Budapest)
  • Sándor GALLAI (Corvinus University Budapest)
  • László GULÁCSI (Óbuda University)
  • Dóra GYŐRFFY (Corvinus University Budapest)
  • György HAJNAL (Corvinus University Budapest)
  • Krisztina KOLOS (Corvinus University Budapest)
  • Alexandra KÖVES (Corvinus University Budapest)
  • Lacina LUBOR (Mendel University in Brno)
  • Péter MEDVEGYEV (Corvinus University Budapest)
  • Miroslava RAJČÁNIOVÁ (Slovak University of Agriculture)
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  • Anita SZŰCS (Corvinus University Budapest)
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Society and Economy
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Society and Economy
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