Anufriev, Mikhail; Dindo, Pietro - In: Journal of Economic Behavior & Organization 73 (2010) 3, pp. 327-358
We study the co-evolution of asset prices and individual wealth in a financial market with an arbitrary number of heterogeneous boundedly rational investors. Using wealth dynamics as a selection device we are able to characterize the long run market outcomes, i.e., asset returns and wealth...