کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5099756 1478709 2006 49 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Equilibria, stability and asymptotic dominance in a speculative market with heterogeneous traders
موضوعات مرتبط
مهندسی و علوم پایه ریاضیات کنترل و بهینه سازی
پیش نمایش صفحه اول مقاله
Equilibria, stability and asymptotic dominance in a speculative market with heterogeneous traders
چکیده انگلیسی
Introducing the 'Equilibrium Market Line' as the locus of all possible equilibrium returns, we show that, irrespectively of the number of traders and of their investment behavior, the economy possesses isolated equilibria where a single agent dominates the market and continuous manifolds of equilibria where many agents hold finite wealth shares. Moreover, we prove that no global dominance order relation among strategies can be defined.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Dynamics and Control - Volume 30, Issues 9–10, September–October 2006, Pages 1787-1835
نویسندگان
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