A ratonal route to randomness
Article Abstract:
Adaptively rational equilibrium is a concept that may be used to describe the adaptive behavior of agents concerning predictors with respect to time. The concept is effective for determining the evolution of decision-making processes as this may be used for markets where there is choice between naive and rational expectations and where the there are positive information costs for rational expectations.
Publication Name: Econometrica
Subject: Mathematics
ISSN: 0012-9682
Year: 1997
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Institutional architectures and behavioral ecologies in the dynamics of financial markets
Article Abstract:
The properties of financial market dynamics under different trading protocols are examined. An empirical analysis of statistical properties of daily data from the world's major stock exchanges is presented. A comparative analysis of different market phases characterized by different trading protocols is presented.
Publication Name: The Journal of Mathematical Economics
Subject: Mathematics
ISSN: 0304-4068
Year: 2005
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