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of both levels of socio-finance are presented, and it is shown, in particular, how complexity theory provides the … broad introduction to the standard economic theory of rational financial markets and will come to understand its … shortcomings with the help of concrete examples. Complexity theory is then introduced in order to properly account for behavioral …
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Statistical analysis of stock markets and foreign exchange markets has demonstrated the intermittent nature of economic time series. A nonlinear model of business cycles is able to simulate intermittency arising from order-chaos and chaos-chaos transitions. This monograph introduces new concepts...
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Framing Creating Bull Markets of the Past: Growth Theory of Financial Markets -- Complexity Theory and Systemic Risk in the … Technical Analysis -- Catching Animal Spirits: Using Complexity Theory to Detect Speculative Moments of the Markets -- Social …
Persistent link: https://www.econbiz.de/10010235724
In a complete market for short-lived assets, we investigate long run wealth-driven selection on a general class of investment rules that depend on endogenously determined current and past prices. We find that market instability, leading to asset mis-pricing and informational efficiencies, is a...
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This dissertation deals with the impact of speculative behaviour on output patterns of the real economy. The impact may be twofold. Speculative behaviour occurs due to positive developments at the real economy and optimistic outlooks. Also, speculative behaviour may occur at other markets, like...
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