Equilibrium stock return dynamics under alternative rules of learning about hidden states
Article Abstract:
The properties of equilibrium stock returns in an incomplete information economy, in which agents need to learn the hidden state of the endowment process, are examined. The results are obtained using Bayesian and suboptimal learning rules, including near-rational learning, conservation, representativeness, optimism and pessimism.
Publication Name: Journal of Economic Dynamics & Control
Subject: Economics
ISSN: 0165-1889
Year: 2004
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Forward trading and storage in a Cournot duopoly
Article Abstract:
Forward trading and storage are two dynamic choices made by firms in many commodity markets. A dynamic game that models the effects of forward trading and storage in an imperfectly competitive market is presented.
Publication Name: Journal of Economic Dynamics & Control
Subject: Economics
ISSN: 0165-1889
Year: 2003
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Sustainable growth, renewable resources and pollution: thresholds and cycles
Article Abstract:
The framework of Ayong Le Kama has drawn attention to two properties. The two properties are, firstly stable limit cycles as optimal long run and multiple equilibria separated by a threshold curve.
Publication Name: Journal of Economic Dynamics & Control
Subject: Economics
ISSN: 0165-1889
Year: 2004
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