MODELING THE ECONOMIC INTERACTION OF AGENTS WITH DIVERSE ABILITIES TO RECOGNIZE EQUILIBRIUM PATTERNS
成果类型：
Article
署名作者：
Piccione, Michele; Rubinstein, Ariel
署名单位：
University of London; London School Economics & Political Science; Tel Aviv University; Princeton University
刊物名称：
JOURNAL OF THE EUROPEAN ECONOMIC ASSOCIATION
ISSN/ISSBN：
1542-4766
DOI：
10.1162/154247603322256819
发表日期：
2003
页码：
212-223
关键词：
摘要：
We model differences among agents in their ability to recognize temporal patterns of prices. Using the concept of DeBruijn sequences in two dynamic models of markets, we demonstrate the existence of equilibria in which prices fluctuate in a pattern that is independent of the fundamentals and that can be recognized only by the more competent agents. (JEL: C7, D4, S477)
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