Evolution and market behavior

DOI10.1016/0022-0531(92)90099-4zbMath0769.90014OpenAlexW2041636470MaRDI QIDQ1196190

Publication date: 17 December 1992

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/0022-0531(92)90099-4

zbMATH Keywords

adaptive decision rules long run behavior of asset prices

Mathematics Subject Classification ID

Economic growth models (91B62)

Related Items (83)

Who wins? Study of long-run trader survival in an artificial stock market ⋮ Convergence and approximation results for non-cooperative Bayesian games: Learning theorems ⋮ Economic Darwinism: Who has the best probabilities? ⋮ The possibility of informationally efficient markets ⋮ Excess covariance and dynamic instability in a multi-asset model ⋮ Evolutionary portfolio selection with liquidity shocks ⋮ Evolution of heterogeneous beliefs and asset overvaluation ⋮ An evolutionary finance model with short selling and endogenous asset supply ⋮ Heterogeneous beliefs, wealth accumulation, and asset price dynamics ⋮ A continuous-time asset market game with short-lived assets ⋮ Prices are macro-observables! stylized facts from evolutionary finance ⋮ Evolutionary game theory: a renaissance ⋮ Markets with heterogeneous beliefs: a necessary and sufficient condition for a trader to vanish ⋮ Equilibrium asset pricing with Epstein-Zin and loss-averse investors ⋮ Drift criteria for persistence of discrete stochastic processes on the line ⋮ Performance of investment strategies in the absence of correct beliefs ⋮ Updating wealth in an asset pricing model with heterogeneous agents ⋮ A new justification of monopolistic competition ⋮ Survival in Cournot games ⋮ Indirect evolution and aggregate-taking behavior in a football league: utility maximization, profit maximization, and success ⋮ Survival in speculative markets ⋮ A CONTINUOUS TIME APPROXIMATION OF AN EVOLUTIONARY STOCK MARKET MODEL ⋮ Market equilibria under procedural rationality ⋮ Social contagion and the survival of diverse investment styles ⋮ Loss aversion, survival and asset prices ⋮ Which misspecifications persist? ⋮ Rational expectations and monopolistic trades ⋮ Asymptotic minimization of expected time to reach a large wealth level in an asset market game ⋮ International trade and technological competition in markets with dynamic increasing returns ⋮ Market selection: hungry misers and bloated bankrupts ⋮ Evolutionary finance and dynamic games ⋮ Local stability analysis of a stochastic evolutionary financial market model with a risk-free asset ⋮ Procedural rationality, asset heterogeneity and market selection ⋮ On a Diffusion Approximation of a Prediction Game ⋮ Capital Growth and Survival Strategies in a Market with Endogenous Prices ⋮ Agent-based Modeling and Simulation of Competitive Wholesale Electricity Markets ⋮ Investment behavior under Knightian uncertainty -- an evolutionary approach ⋮ Are inefficient entrepreneurs driven out of the market? ⋮ Living with ambiguity: prices and survival when investors have heterogeneous preferences for ambiguity ⋮ Market selection with an endogenous state ⋮ Behavioral equilibrium and evolutionary dynamics in asset markets ⋮ Asset market games of survival: a synthesis of evolutionary and dynamic games ⋮ Globally evolutionarily stable portfolio rules ⋮ Belief heterogeneity and survival in incomplete markets ⋮ Portfolio management without probabilities or statistics ⋮ Market power, survival and accuracy of predictions in financial markets ⋮ Agent-based computational finance: Suggested readings and early research ⋮ Heterogeneous beliefs and the non-linear cobweb model ⋮ Endogenous fluctuations in a simple asset pricing model with heterogeneous agents ⋮ On non-ergodic asset prices ⋮ Herd behavior, bubbles and social interactions in financial markets ⋮ Evolution and market behavior with endogenous investment rules ⋮ Markets do not select for a liquidity preference as behavior towards risk ⋮ FROM RAGS TO RICHES: ON CONSTANT PROPORTIONS INVESTMENT STRATEGIES ⋮ Equilibria, stability and asymptotic dominance in a speculative market with heterogeneous traders ⋮ Are biased beliefs fit to survive? An experimental test of the market selection hypothesis ⋮ Learning in games by random sampling ⋮ Evolutionary dynamics in markets with many trader types ⋮ Evolutionary stability of portfolio rules in incomplete markets ⋮ The asset market game ⋮ Market selection when markets are incomplete ⋮ Market selection and survival of investment strategies ⋮ Genetic learning as an explanation of stylized facts of foreign exchange markets ⋮ The market organism: Long-run survival in markets with heterogeneous traders ⋮ The reality game ⋮ Relative growth optimal strategies in an asset market game ⋮ Games of competition in a stochastic environment ⋮ MARKET SELECTION OF FINANCIAL TRADING STRATEGIES: GLOBAL STABILITY ⋮ The evolution of portfolio rules and the capital asset pricing model ⋮ Long-run heterogeneity in an exchange economy with fixed-mix traders ⋮ Momentum and reversal in financial markets with persistent heterogeneity ⋮ A simple asset pricing model with social interactions and heterogeneous beliefs ⋮ Market selection in large economies: A matter of luck ⋮ Artificial economic life: A simple model of a stockmarket ⋮ An evolutionary game theory explanation of ARCH effects ⋮ Far from the madding crowd: collective wisdom in prediction markets ⋮ SURVIVAL INVESTMENT STRATEGIES IN A CONTINUOUS-TIME MARKET MODEL WITH COMPETITION ⋮ Rumours and markets ⋮ The long-run behavior of consumption and wealth dynamics in complete financial market with heterogeneous investors ⋮ The role of heterogeneous agents' past and forward time horizons in formulating computational models ⋮ Competing in several areas simultaneously: the case of strategic asset markets ⋮ Optimality and natural selection in markets ⋮ The dynamics of risk-sensitive allocations

Cites Work

This page was built for publication: Evolution and market behavior