The Dynamics of Speculative Behaviour

A number of recent emirical studies cast some doubt on the random walk theory of asset prices and suggest these display significant transitory components and complex chaotic motion. This paper analyses a model of fundamentalists and chartists which can generate a number of dynamic regimes which are compatible with the recent empirical evidence.

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Year of publication:	1992-01-01
Authors:	Chiarella, Carl
Institutions:	Finance Discipline Group, Business School

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Extent:	application/pdf
Series:	Working Paper Series.
Type of publication:	Book / Working Paper
Notes:	Published as: Chiarella, C. 1992, "The Dynamics of Speculative Behaviour", Annals of Operations Research, 37(1), pp. 101-123. Number 13 29 pages
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005073682