Tramontana, Fabio; Westerhoff, Frank; Gardini, Laura - Dipartimento di Scienze Economiche e Aziendali, … - 2011
We present a simple financial market model with interacting chartists and fundamentalists. Since some of these speculators only become active when a certain misalignment level has been crossed, the dynamics are driven by a discontinuous piecewise linear map. The model endogenously generates...
