haku: @indexterm evolutionary games / yhteensä: 12
viite: 10 / 12
| Tekijä: | Wang, F.A. |
| Otsikko: | Overconfidence, investor sentiment, and evolution |
| Lehti: | Journal of Financial Intermediation
2001 : APR, VOL. 10:2, p. 138-170 |
| Asiasana: | EVOLUTIONARY GAMES INVESTORS |
| Vapaa asiasana: | OPTIMISM OVERCONFIDENCE |
| Kieli: | eng |
| Tiivistelmä: | The author examines the survival of nonrational investors in an evolutionary game model with a population dynamic for a large economy. The dynamic indicates that the growth rate of wealth accumulation drives the evolutionary process. The analysis focuses on the survival of overconfidence and investor sentiment. The author finds that underconfidence or pessimism cannot survive, but moderate overconfidence or optimism can survive and even dominate, particularly when the fundamental risk is large. |
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