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Stability under learning of equilibria in financial markets with supply information
Heinemann, Maik - 2009
in this model. This note shows that these additional equilibria are always unstable under learning. This is true for both … eductive learning following Guesnerie [2002] and adaptive learning via leastsquares estimation (cf. Marcet and Sargent [1988 … clear cut, since this equilibrium might be unstable under eductive learning while it is always stable under adaptive …
Persistent link: https://www.econbiz.de/10003828717
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Multidimensional noise and non-fundamental information diversity
Russ, David - 2020
In this paper, I relax the common assumption of the one-dimensionality of noise made in the standard competitive noisy rational expectations framework. Within an environment characterized by multidimensional noise, I explore the strategic interactions between different traders that are informed...
Persistent link: https://www.econbiz.de/10012392302
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Dynamic Noisy Rational Expectations Equilibrium with Insider Information
Detemple, Jerome; Rindisbacher, Marcel; Robertson, Scott - 2020
We study equilibria in multi-asset and multi-agent continuous-time economies with asymmetric information and bounded rational noise traders. We establish existence of two equilibria. First, a full communication one where the informed agents' signal is disclosed to the market, and static policies...
Persistent link: https://www.econbiz.de/10014096110
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An explanation for the price puzzle : asymmetric information and expectation dynamics
Tas, Bedri Kamil Onur - In: Journal of macroeconomics 33 (2011) 2, pp. 259-275
Persistent link: https://www.econbiz.de/10009248401
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Information dissemination in an experimentally based agent-based stock market
Grazzini, Jakob - In: Journal of economic interaction and coordination : JEIC 8 (2013) 1, pp. 179-209
Persistent link: https://www.econbiz.de/10009730899
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Two-sided learning and short-run dynamics in a New Keynesian model of the economy
Matthes, Christian; Rondina, Francesca - In: Economics letters 159 (2017), pp. 53-56
Persistent link: https://www.econbiz.de/10011902888
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Learning and informational stability of dynamic REE with incomplete information
Rondina, Giacomo; Walker, Todd B. - In: Review of economic dynamics 21 (2016), pp. 147-159
Persistent link: https://www.econbiz.de/10011635874
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On the limit points of an infinitely repeated rational expectations equilibrium : preliminary version
Pesce, Marialaura; Urbinati, Niccolò; Yannelis, Nicholas C. - 2023
Persistent link: https://www.econbiz.de/10014304494
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Two-dimensional information acquisition in social learning
Bobkova, Nina; Mass, Helene - In: Journal of economic theory 202 (2022), pp. 1-14
Persistent link: https://www.econbiz.de/10013373485
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Adverse selection, learning, and competitive search
Mayr, Karin - 2020
(2010). My model allows for an analysis of the effects of firm learning on labor market efficiency in the presence of search … frictions. I find that firm learning increases relative expected earnings in high-ability jobs and, thereby, enhances imitation … priori. Numerical results show that firm learning does not increase labor market efficiency. …
Persistent link: https://www.econbiz.de/10012306402