Asymmetric participation in China's stamp market: hobbyists and investors

Authors
Huang, SM
Citation
Sm. Huang, Asymmetric participation in China's stamp market: hobbyists and investors, APPL ECON, 33(8), 2001, pp. 1039-1044
Citations number
12
Categorie Soggetti
Economics
Journal title
APPLIED ECONOMICS
ISSN journal
00036846 → ACNP
Volume
33
Issue
8
Year of publication
2001
Pages
1039 - 1044
Database
ISI
SICI code
0003-6846(200106)33:8<1039:APICSM>2.0.ZU;2-1
Abstract
China's stamp market has expanded rapidly in the last two decades. Stamp tr ading has become very profitable. Both hobbyists and investors are more int erested in newly released stamps. This study shows that the value of newly issued stamps appreciates faster than the value of older issued stamps. Thi s effect is caused by the asymmetric participation in stamp collection betw een hobbyists and investors.