Asset Market Dynamics in Equilibrium Models with Heterogeneous Agents: Analytical Results
نویسندگان
چکیده
منابع مشابه
Complex dynamics in equilibrium asset pricing models with boundedly rational, heterogeneous agents
We study a simple model based upon the Lucas framework where heterogeneous agents behave rationally in a fully intertemporal setting but do not know other investors’ personal preferences, wealth or investment portfolios. As a consequence, agents initially do not know the equilibrium asset pricing function and must make guesses which they update via adaptive learning with constant gain. We demon...
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ژورنال
عنوان ژورنال: Advances in Economics and Business
سال: 2013
ISSN: 2331-5059,2331-5075
DOI: 10.13189/aeb.2013.010202