haku: @indexterm financial models / yhteensä: 494
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| Tekijä: | Topol, R. |
| Otsikko: | Bubbles and volatility of stock prices: Effect of mimetic contagion |
| Lehti: | Economic Journal
1991 : JUL, VOL. 101-407, p. 786-800 |
| Asiasana: | SHARE PRICES STOCK MARKETS INFORMATION LEARNING FINANCIAL MODELS |
| Kieli: | eng |
| Tiivistelmä: | A model is considered in which not independent traders or representative agents are considered but individual investors, sellers and/or buyers embedded in the market where collective opinions may exist. For that purpose, the market consists of traders who know they are differently and incompletely informed. The bid and/or ask price dynamics is formalised as an additive learning process between present value and mimetic contagion which represents relations between agents. This additive assumption gives the "fads" character to the model presented. Noise could be added to represent new information. |
SCIMA