Modeling speculative bubbles with diverse investor expectations
We construct a model of asset market exuberance, collapse and recovery using subjective investor-based rational expectations about the impact of fundamentals on the market price. Investors are assumed to have heterogeneous market sentiments, allowing them to be exuberant, cautious, or fundamentalist...
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
2016
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| Online Access: | https://ink.library.smu.edu.sg/soe_research/2147 https://ink.library.smu.edu.sg/context/soe_research/article/3147/viewcontent/1_s2.0_S1090944315301708_main.pdf |
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| Institution: | Singapore Management University |
| Language: | English |
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