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Endogenous market segmentation with heterogeneous agents

✍ Scribed by Gautam Bose


Publisher
Springer
Year
2003
Tongue
English
Weight
107 KB
Volume
22
Category
Article
ISSN
0938-2259

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In this paper we study the adaptive rational equilibrium dynamics in a simple asset pricing model introduced by Brock and Hommes (System Dynamics in Economic and Financial Models, Wiley, Chichester, 1997, pp. 3}44; Journal of Economic Dynamics and Control, 22, 1998, 1235}1274). Traders have heteroge