Showing 61 - 70 of 1,002
Persistent link: https://www.econbiz.de/10003407922
Persistent link: https://www.econbiz.de/10003194451
Persistent link: https://www.econbiz.de/10003944047
This chapter surveys the boundedly rational heterogeneous agent (BRHA) models of financial markets, to the development of which the authors and several co-authors have contributed in various papers. We give particular emphasis to role of the market clearing mechanism used, the utility function...
Persistent link: https://www.econbiz.de/10012718887
Within the standard mean-variance framework, this paper provides a procedure to aggregate the heterogeneous beliefs in not only risk preferences and expected payoffs but also variances/covariances into a market consensus belief. Consequently, an asset equilibrium price under heterogeneous...
Persistent link: https://www.econbiz.de/10012725059
Following the framework of a one risky - one riskless asset model developed by Brock and Hommes (1998), this paper considers a discrete-time model of a financial market where heterogeneous groups of agents allocate their wealth amongst multiple risky assets and a riskless asset. Agents follow...
Persistent link: https://www.econbiz.de/10012733956
Persistent link: https://www.econbiz.de/10005135824
Persistent link: https://www.econbiz.de/10009326726
Persistent link: https://www.econbiz.de/10007285986
Persistent link: https://www.econbiz.de/10009289682