Jouini, Elyès; Napp, Clotilde - HAL - 2010
We analyze a model with two types of agents: standard agents and gurus, i.e. agents who have the ability to influence … the other investors. Gurus announce their beliefs and act accordingly. Each investor has a preferred guru and follows his … recommendations. Prices are determined through a classical Walras mechanism. Gurus are strategic: they take into account the impact of …