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Author : Jayasri Dutta
Publisher :
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.:/5 (318 download)
Download or read book The Revelation of Information and Self-fulfilling Beliefs written by Jayasri Dutta and published by . This book was released on 1995 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Markus K. Brunnermeier
Publisher : OUP Oxford
ISBN 13 : 0191606928
Total Pages : 262 pages
Book Rating : 4.1/5 (916 download)
Download or read book Asset Pricing under Asymmetric Information written by Markus K. Brunnermeier and published by OUP Oxford. This book was released on 2001-01-25 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: Asset prices are driven by public news and information that is often dispersed among many market participants. These agents try to infer each other's information by analyzing price processes. In the past two decades, theoretical research in financial economics has significantly advanced our understanding of the informational aspects of price processes. This book provides a detailed and up-to-date survey of this important body of literature. The book begins by demonstrating how to model asymmetric information and higher-order knowledge. It then contrasts competitive and strategic equilibrium concepts under asymmetric information. It also illustrates the dependence of information efficiency and allocative efficiency on the security structure and the linkage between both efficiency concepts. No-Trade theorems and market breakdowns due to asymmetric information are then explained, and the existence of bubbles under symmetric and asymmetric information is investigated. The remainder of the survey is devoted to contrasting different market microstructure models that demonstrate how asymmetric information affects asset prices and traders' information , which provide a theoretical explanation for technical analysis and illustrate why some investors "chase the trend." The reader is then introduced to herding models and informational cascades, which can arise in a setting where agents' decision-making is sequential. The insights derived from herding models are used to provide rational explanations for stock market crashes. Models in which all traders are induced to search for the same piece of information are then presented to provide a deeper insight into Keynes' comparison of the stock market with a beauty contest. The book concludes with a brief summary of bank runs and their connection to financial crises.
Author : Robert J. Aumann
Publisher : MIT Press
ISBN 13 : 9780262011549
Total Pages : 806 pages
Book Rating : 4.0/5 (115 download)
Download or read book Collected Papers written by Robert J. Aumann and published by MIT Press. This book was released on 2000 with total page 806 pages. Available in PDF, EPUB and Kindle. Book excerpt: Robert Aumann's career in game theory has spanned over research - from his doctoral dissertation in 1956 to papers as recent as January 1995. Threaded through all of Aumann's work (symbolized in his thesis on knots) is the study of relationships between different ideas, between different phenomena, and between ideas and phenomena. When you look closely at one scientific idea, writes Aumann, you find it hitched to all others. It is these hitches that I have tried to study.
Author : Roger Guesnerie
Publisher : MIT Press
ISBN 13 : 9780262262903
Total Pages : 498 pages
Book Rating : 4.2/5 (629 download)
Download or read book Assessing Rational Expectations 2 written by Roger Guesnerie and published by MIT Press. This book was released on 2005-02-18 with total page 498 pages. Available in PDF, EPUB and Kindle. Book excerpt: A theoretical assessment of the Rational Expectations Hypothesis through subjecting a collection of economic models to an "eductive stability" test. The rational expectations hypothesis (REH) dominates economic modeling in areas ranging from monetary theory, macroeconomics, and general equilibrium to finance. In this book, Roger Guesnerie continues the critical analysis of the REH begun in his Assessing Rational Expectations: Sunspot Multiplicity and Economic Fluctuations, which dealt with the questions raised by multiplicity and its implications for a theory of endogenous fluctuations. This second volume emphasizes "eductive" learning: relying on careful reasoning, agents must deduce what other agents guess, a process that differs from the standard evolutionary learning experience in which agents make decisions about the future based on past experiences. A broad "eductive" stability test is proposed that includes common knowledge and results in a unique "rationalizable expectations equilibrium." This test provides the basis for Guesnerie's theoretical assessment of the plausibility of the REH's expectational coordination, emphasizing, for different categories of economic models, conditions for the REH's success or failure. Guesnerie begins by presenting the concepts and methods of the eductive stability analysis in selected partial equilibrium models. He then explores to what extent general equilibrium strategic complementarities interfere with partial equilibrium considerations in the formation of stable expectations. Guesnerie next examines two issues relating to eductive stability in financial market models, speculation and asymmetric price information. The dynamic settings of an infinite horizon model are then taken up, and particular standard and generalized saddle-path solutions are scrutinized. Guesnerie concludes with a review of general questions and some "cautious" remarks on the policy implications of his analysis.
Author : Alessandro Citanna
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.:/5 (318 download)
Download or read book Underemployment of Resources and Self-confirming Beliefs written by Alessandro Citanna and published by . This book was released on 1995 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Steve Duck
Publisher : SAGE Publications
ISBN 13 : 1506315151
Total Pages : 393 pages
Book Rating : 4.5/5 (63 download)
Download or read book Communication in Everyday Life written by Steve Duck and published by SAGE Publications. This book was released on 2016-12-01 with total page 393 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explore fundamental communication concepts, theories, and skills aimed at helping students apply communication skills to their personal and professional lives—with a thematic integration of the relational perspective and a focus on demonstrating its direct relevance to their own everyday communication.
Author : Karl Shell
Publisher :
ISBN 13 :
Total Pages : 406 pages
Book Rating : 4.0/5 (531 download)
Download or read book Journal of Economic Theory written by Karl Shell and published by . This book was released on 1998 with total page 406 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Atsushi Kajii
Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.:/5 (318 download)
Download or read book The Robustness of Equilibria to Incomplete Information written by Atsushi Kajii and published by . This book was released on 1995 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Charalambos D. Aliprantis
Publisher : Springer Science & Business Media
ISBN 13 : 9783540009115
Total Pages : 756 pages
Book Rating : 4.0/5 (91 download)
Download or read book Assets, Beliefs, and Equilibria in Economic Dynamics written by Charalambos D. Aliprantis and published by Springer Science & Business Media. This book was released on 2004 with total page 756 pages. Available in PDF, EPUB and Kindle. Book excerpt: A collection of papers dealing with a broad range of topics in mathematical economics, game theory and economic dynamics. The contributions present both theoretical and applied research. The volume is dedicated to Mordecai Kurz. The papers were presented in a special symposium co-hosted by the Stanford University Department of Economics and by the Stanford Institute of Economic Policy Research in August 2002.
Author :
Publisher :
ISBN 13 :
Total Pages : 746 pages
Book Rating : 4.E/5 ( download)
Download or read book journal of economic theroy written by and published by . This book was released on 2003 with total page 746 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : François Gardes
Publisher : Edward Elgar Publishing
ISBN 13 :
Total Pages : 322 pages
Book Rating : 4.F/5 ( download)
Download or read book Price Expectations in Goods and Financial Markets written by François Gardes and published by Edward Elgar Publishing. This book was released on 2000 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists and scholars in related fields discuss the concept of rationality of expectations from both a theoretical and an empirical point of view, and at both individual and collective levels. Concerning the first aspect, the book focuses on how agents collect and process information and how market opinion is formed. Concerning the second aspect, it presents studies based on individual price expectations and on the consensus revealed by survey data. Contributors analyze price expectations in a variety of markets, periods, and countries, paying special attention to financial markets which have represented the main field of study over the last ten years. Annotation copyrighted by Book News Inc., Portland, OR
Author : Roger D. Lagunoff
Publisher :
ISBN 13 :
Total Pages : 26 pages
Book Rating : 4.:/5 (318 download)
Download or read book Sufficiently Specialized Economies Have Nonempty Cores written by Roger D. Lagunoff and published by . This book was released on 1995 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Roger Dean Lagunoff
Publisher :
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.:/5 (318 download)
Download or read book On the Evolution of Pareto Optimal Behavior in Repeated Coordination Problems written by Roger Dean Lagunoff and published by . This book was released on 1995 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Alvaro Sandroni
Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.:/5 (318 download)
Download or read book Necessary and Sufficient Conditions for Convergence to Nash Equilibrium written by Alvaro Sandroni and published by . This book was released on 1995 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Stephen E. Morris
Publisher :
ISBN 13 :
Total Pages : 18 pages
Book Rating : 4.:/5 (318 download)
Download or read book Co-operation and Timing written by Stephen E. Morris and published by . This book was released on 1995 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Stephen E. Morris
Publisher :
ISBN 13 :
Total Pages : 26 pages
Book Rating : 4.:/5 (318 download)
Download or read book Justifying Rational Expectations written by Stephen E. Morris and published by . This book was released on 1995 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Pennsylvania
Publisher :
ISBN 13 :
Total Pages : 1098 pages
Book Rating : 4.0/5 (531 download)
Download or read book Journal of Economic Theory written by Pennsylvania and published by . This book was released on 2002 with total page 1098 pages. Available in PDF, EPUB and Kindle. Book excerpt:
