Titlebook: Decisions, Games and Markets; Pierpaolo Battigalli,Aldo Montesano,Fausto Panunzi Book 1997 Springer Science+Business Media New York 1997 d

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透明

Andreas Føllesdal,Peter Koslowskimption is dropped. We provide a macroeconomic example which clearly illustrates the crucial role of players’ structural and behavioral conjectures: different equilibrium and disequilibrium paths (some with keynesian type inefficiencies) are generated by different expectations patterns. Convergence o

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参考书目

https://doi.org/10.1007/978-3-319-72197-2the case of an “unsophisticated” market where all agents are liquidity traders. For this case we find the optimal pricing policy. We then proceed to analyze the case of a market where sophisticated traders try to infer the specialist’s information observing the announced prices. For this case we fin

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Cpr951

Rachel E. Johnson,Shirin M. Rai future dividends. This paper analyzes the relationship between market size and risk in a rational expectations equilibrium model with many assets and transaction costs. It predicts that (i) the conditional and unconditional variance of stock returns is higher for thin stocks, and (ii) this relation