Recent developments in asset pricing with heterogeneous beliefs and adaptive behaviour of financial markets

Publication Type:
Global analysis of dynamic models in economics and finance: Essays in honour of Laura Gardini, 2013, 1, pp. 3 - 34
Issue Date:
Filename Description Size
Thumbnail2011006579OK.pdf2.36 MB
Adobe PDF
Full metadata record
Heterogeneity and interacting among boundedly rational agents have received increasing attention in the finance and economics literature. Recent developments on the role of heterogeneous beliefs on asset pricing and the adaptive behaviour of financial markets shed light into the complex behaviour of financial markets and provide some explanations of certain market behaviour and anomalies. This paper surveys these developments, to which the author and several coauthors have contributed in several papers, and discusses the extent to which they can address market anomalies, complexity, and stylized facts in financial markets.
Please use this identifier to cite or link to this item: