Models of Compelxity in Economics and Finance.

We have set out a general framework for adaptive belief systems in asset pricing thery. Fluctuations in prices and returns are driven by an evolutionary dynamics between traders with different expectations about prices.

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Year of publication:	1997
Authors:	Brock, W.A. ; Hommes, C.H.
Institutions:	Wisconsin Madison - Social Systems
Subject:	FINANCIAL MARKET \| FLUCTUATIONS

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Extent:	application/pdf
Series:	Working papers.
Type of publication:	Book / Working Paper
Notes:	29 pages
Classification:	G12 - Asset Pricing ; G13 - Contingent Pricing; Futures Pricing
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005795277