Formation of share market prices under heterogeneous beliefs and common knowledge
نویسندگان
چکیده
منابع مشابه
The formation of share market prices under heterogeneous beliefs and common knowledge
Financial economic models often assume that investors know (or agree on) the fundamental value of the shares of the firm, easing the passage from the individual to the collective dimension of the financial system generated by the Share Exchange over time. Our model relaxes that heroic assumption of one unique ”true value” and deals with the formation of share market prices through the dynamic f...
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ژورنال
عنوان ژورنال: Physica A: Statistical Mechanics and its Applications
سال: 2012
ISSN: 0378-4371
DOI: 10.1016/j.physa.2012.06.015