Showing 1 - 2 of 2
We propose a general framework for studying the evolution ofheterogeneous beliefs in a dynamic feedback setting. Beliefsdistributions are defined on a continuous space representingthe possible strategies agents can choose from. Agents base theirchoices on past performances. As new information...
Persistent link: https://www.econbiz.de/10011249542
random utility framework, heterogeneity can be seen to act as a 'natural source of randomness'. Allowing for modeling the …
Persistent link: https://www.econbiz.de/10011255553