Blar i NHH Brage på emneord "behavioral finance"
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Behavioral equilibrium and evolutionary dynamics in asset markets
(Peer reviewed; Journal article, 2020)This paper analyzes a dynamic stochastic equilibrium model of an asset market based on behavioral and evolutionary principles. The core of the model is a non-traditional game-theoretic framework combining elements of ... -
Rational investor sentiment
(Discussion paper, Working paper, 2002-11)We explain excess volatility, short-term momentum and long-term reversal of asset prices by a repeated game version of Keynes' beauty contest. In every period the players can either place a buy or sell order on the asset ...