Asset price and wealth dynamics in a financial market with heterogeneous agents

Elsevier Science Bv
Publication Type:
Journal Article
Journal of Economic Dynamics and Control, 2006, 30 (9-10), pp. 1755 - 1786
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This paper considers a discrete-time model of a financial market with one risky asset and one risk-free asset, where the asset price and wealth dynamics are determined by the interaction of two groups of agents, fundamentalists and chartists. In each per
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