This paper reviews a model of bubbles under the assumption of heterogeneous rational traders. In the presence of dispersion of opinions, or sequential awareness, financial bubbles are justified by the interactions between rational arbitrageurs and behavioural traders. Timing is a very important component in the trader's strategy. This model is then extended to explain both bubbles and overshooting crash
We present a model where it can be optimal for rational informed speculators/arbitragers to ride the...
The aim of this paper is to propose a new model of bubbles and crashes to elucidate a mechanism of b...
We consider a purely speculative market with \u85nite horizon and complete information. We introduce...
This paper reviews a model of bubbles under the assumption of heterogeneous rational traders. In the...
This paper reviews a model of bubbles under the assumption of heterogeneous rational traders. In the...
This paper reviews a model of bubbles under the assumption of heterogeneous rational traders. In the...
Episodes of market crashes have fascinated economists for centuries. Although many academics, practi...
Episodes of market crashes have fascinated economists for centuries. Although many academics, practi...
Episodes of market crashes have fascinated economists for centuries. Although many academics, practi...
Episodes of market crashes have fascinated economists for centuries. Although many academics, practi...
We present a model in which an asset bubble can persist despite the presence of rational arbitrageur...
The aim of this paper is to provide one potential theoretical explanation for questions how asset bu...
The aim of this paper is to provide one potential theoretical explanation for questions how asset bu...
We consider a purely speculative market with finite horizon and complete information. We introduce p...
We develop a simple model of the exchange rate in which agents optimize their portfolio and use diff...
We present a model where it can be optimal for rational informed speculators/arbitragers to ride the...
The aim of this paper is to propose a new model of bubbles and crashes to elucidate a mechanism of b...
We consider a purely speculative market with \u85nite horizon and complete information. We introduce...
This paper reviews a model of bubbles under the assumption of heterogeneous rational traders. In the...
This paper reviews a model of bubbles under the assumption of heterogeneous rational traders. In the...
This paper reviews a model of bubbles under the assumption of heterogeneous rational traders. In the...
Episodes of market crashes have fascinated economists for centuries. Although many academics, practi...
Episodes of market crashes have fascinated economists for centuries. Although many academics, practi...
Episodes of market crashes have fascinated economists for centuries. Although many academics, practi...
Episodes of market crashes have fascinated economists for centuries. Although many academics, practi...
We present a model in which an asset bubble can persist despite the presence of rational arbitrageur...
The aim of this paper is to provide one potential theoretical explanation for questions how asset bu...
The aim of this paper is to provide one potential theoretical explanation for questions how asset bu...
We consider a purely speculative market with finite horizon and complete information. We introduce p...
We develop a simple model of the exchange rate in which agents optimize their portfolio and use diff...
We present a model where it can be optimal for rational informed speculators/arbitragers to ride the...
The aim of this paper is to propose a new model of bubbles and crashes to elucidate a mechanism of b...
We consider a purely speculative market with \u85nite horizon and complete information. We introduce...
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