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Leoni, Patrick Lucien - In: Journal of mathematical economics 49 (2013) 5, pp. 429-434

Persistent link: https://www.econbiz.de/10010190164

Leoni, Patrick L. - In: Journal of Mathematical Economics 49 (2013) 5, pp. 429-434

competition in this economy, and we study how erroneous beliefs affect long-run survival for those firms. We introduce a notion of … sense. The class of beliefs for which survival occurs is much broader than that of perfectly competitive settings. …

Persistent link: https://www.econbiz.de/10010703223

Long-run heterogeneity in an exchange economy with fixed-mix traders

Bottazzi, Giulio; Dindo, Pietro; Giachini, Daniele - 2015

We consider an exchange economy with heterogeneous agents and multiple assets and investigate the coupled dynamics of assets' prices and agents' wealth. We assume that agents have heterogeneous beliefs and invest on each asset a fraction of wealth proportional to its expected dividends. Our main...

Persistent link: https://www.econbiz.de/10011564737

Survival in speculative markets

Dindo, Pietro - 2015

agents maximize Epstein-Zin preferences and that markets are complete, I derive sufficient conditions for agents' survival in …

Persistent link: https://www.econbiz.de/10011564740

The wisdom of the crowd in dynamic economies

Dindo, Pietro; Massari, Filippo - In: Theoretical Economics 15 (2020) 4, pp. 1627-1668

The wisdom of the crowd applied to financial markets asserts that prices represent a consensus belief that is more accurate than individual beliefs. However, a market selection argument implies that prices eventually reflect only the beliefs of the most accurate agent. In this paper, we show how...

Persistent link: https://www.econbiz.de/10013189055