The terms buyers "market and sellers' market are commonly used in contexts that most economists would characterize as excess supply and excess demand. It is puzzling, however, that in many instances the press and general public are all aware that it is a buyers' or sellers' market. Are these markets
A heterogeneous boundedly rational expectation model for housing market
β Scribed by Andrew Y. T. Leung; Jia-na Xu; Wing Shum Tsui
- Publisher
- Springer
- Year
- 2009
- Tongue
- English
- Weight
- 308 KB
- Volume
- 30
- Category
- Article
- ISSN
- 0253-4827
No coin nor oath required. For personal study only.
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The purpose of this paper is to develop a methodology which will use economic data to detect the existence of boundedly rational economic agents. The bounded rationality model presented in this paper generalizes a linear dynamic rational expectations model by nesting two types of expectations. In th
There exist dual listed stocks which are issued by the same company in some stock markets. Although these stocks bare the same firm-specific risks and enjoy identical dividends and voting policies, they are priced differently. Some previous studies show this seeming deviation from the law of one pri