A dynamic model with learning and adaptation captures the evolution in trader beliefs and trading strategies. Through a process of learning and observation, traders improve their understanding of the market. Traders also engage in a process of adaptation by switching between trading strategies based on past performance. The asymptotic properties are derived analytically, demonstrating that convergence to efficiency depends on the model of adaptation. © 2010 Elsevier B.V
By testing a simple asset pricing model of heterogeneous agents to characterize the power-law behavi...
This dissertation deals with issues of learning and convergence to rational expectations (RE). The f...
We argue that human economic interactions, particularly bargaining and trading in market environment...
An informationally inefficiency market is produced without an exogenous source of noise in the price...
A dynamic model of financial markets with learning is demonstrated to produce a self-organized syste...
Abstract:- A critical issue in financial markets ’ research is the debate between the academic ortho...
We introduce a simple asset pricing model with two types of adaptively learning traders, fundamental...
The seminal study by Brock, Lakonishok and LeBaron (1992) (BLL hereafter) found that the moving aver...
The seminal study by Brock, Lakonishok and LeBaron (1992) (BLL hereafter) found that the moving aver...
This study analyzes two implications of the Adaptive Market Hypothesis: variable efficiency and cycl...
Increasingly, it has become difficult to explain economic phenomena within the neo-classical framewo...
This paper presents a multi-agent financial market simulation. The market is composed of traders who...
International audienceThis paper proposes to model market mechanisms as a collective learning proces...
This thesis investigates stochastic adaptive learning and contrasts models of adaptive individuals ...
The issue of market e¢ ciency attracted the attention of academicians since the existence of financi...
By testing a simple asset pricing model of heterogeneous agents to characterize the power-law behavi...
This dissertation deals with issues of learning and convergence to rational expectations (RE). The f...
We argue that human economic interactions, particularly bargaining and trading in market environment...
An informationally inefficiency market is produced without an exogenous source of noise in the price...
A dynamic model of financial markets with learning is demonstrated to produce a self-organized syste...
Abstract:- A critical issue in financial markets ’ research is the debate between the academic ortho...
We introduce a simple asset pricing model with two types of adaptively learning traders, fundamental...
The seminal study by Brock, Lakonishok and LeBaron (1992) (BLL hereafter) found that the moving aver...
The seminal study by Brock, Lakonishok and LeBaron (1992) (BLL hereafter) found that the moving aver...
This study analyzes two implications of the Adaptive Market Hypothesis: variable efficiency and cycl...
Increasingly, it has become difficult to explain economic phenomena within the neo-classical framewo...
This paper presents a multi-agent financial market simulation. The market is composed of traders who...
International audienceThis paper proposes to model market mechanisms as a collective learning proces...
This thesis investigates stochastic adaptive learning and contrasts models of adaptive individuals ...
The issue of market e¢ ciency attracted the attention of academicians since the existence of financi...
By testing a simple asset pricing model of heterogeneous agents to characterize the power-law behavi...
This dissertation deals with issues of learning and convergence to rational expectations (RE). The f...
We argue that human economic interactions, particularly bargaining and trading in market environment...