Speculative dynamics with bounded rationality learning

Article Abstract:

A model of price dynamics for future markets has been developed under bounded rationality. Three classes of traders are considered in the model, namely, rational traders, fundamentalist traders and feedback traders. A fourth class, noise traders, is considered in an extension of the model. The model shows that institutional investors acting as feedback traders influence the stabilization or destabilization of the market, allowing or not allowing rational traders to learn the two Rational Expectations Equilibrium of the model.

Research, Forecasts and trends, Financial markets, Rational expectations (Economics)

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Modeling undesirable factors in efficiency evaluation: comment

Article Abstract:

Seiford and Zhu proposed using data translation as a means of integrating undesirable outputs and inputs into data envelopment analysis (DEA) models. The article suggests an alternative approach, which allows one to explicitly model a joint environmental technology, and gauge performance in terms of increased good output and decreased undesirable output.

Analysis, Usage, Mathematical models, Data envelopment analysis

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