Heterogeneous beliefs and routes to chaos in a simple asset pricing model

Article Abstract:

An investigation of the dynamics involved in the simple present discounted value asset pricing model with heterogeneous beliefs reveals that several bifurcation routes complicating asset price fluctuations may be observed. The bifurcation routes observed are closely related to pitchfork bifurcation, period bifurcation and Hopf bifurcation and tend to come into play as the intensity of choice to switch predictors increases.

Research and Development in the Physical, Engineering, and Life Sciences, Economics, Research and Development in the Social Sciences and Humanities, Statistics, Analysis, Risk management, Assets (Accounting), Bifurcation theory, Statistics (Mathematics)

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Heterogeneous beliefs and the non-linear cobweb model

Article Abstract:

The evolutionary cobweb model and heterogeneous beliefs are applied to the case of non-linear demand and supply.

Models, Supply and demand

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Complex nonlinear dynamics and computational methods

Article Abstract:

Complex nonlinear dynamics are discussed.

Research, Computational complexity, Computational complexity (Machine theory)

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