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We propose a general framework for studying the evolution ofheterogeneous beliefs in a dynamic feedback setting. Beliefsdistributions are defined on a continuous space representingthe possible strategies agents can choose from. Agents base theirchoices on past performances. As new information...
Persistent link: https://www.econbiz.de/10011249542
directly related to the time varying beliefs distribution. We consider some asset pricing examples and discuss several …
Persistent link: https://www.econbiz.de/10011255553