Tramontana, Fabio; Westerhoff, Frank; Gardini, Laura - In: Journal of Economic Dynamics and Control 37 (2013) 11, pp. 2351-2370
We develop a financial market model with interacting chartists and fundamentalists that embeds the famous bull and bear market model of Huang and Day as a special case. Their model is given by a one-dimensional continuous piecewise-linear map. Our model, on the other hand, is more flexible and...