Wednesday, 09\/05\/2018
\n14:00
\nScuola Normale Superiore
\nAula\u00a0Bianchi Scienze<\/p>\n
Hye-Jin Cho <\/b>
\nUniversity of Paris 1 – Panthe\u0301on Sorbonne<\/p>\n
Abstract \nThis study is intended to provide a continuous-time equilibrium model Wednesday, 09\/05\/2018 14:00 Scuola Normale Superiore Aula\u00a0Bianchi Scienze Hye-Jin Cho University of Paris 1 – Panthe\u0301on Sorbonne Abstract This study is intended to provide a continuous-time equilibrium model in which overconfidence generates disagreements among two groups regarding asset fundamentals. Every agent in trading wants to sell more than the average stock price in the market. […]<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[7,13],"tags":[],"_links":{"self":[{"href":"http:\/\/mathfinance.sns.it\/index.php\/wp-json\/wp\/v2\/posts\/1155"}],"collection":[{"href":"http:\/\/mathfinance.sns.it\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/mathfinance.sns.it\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/mathfinance.sns.it\/index.php\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"http:\/\/mathfinance.sns.it\/index.php\/wp-json\/wp\/v2\/comments?post=1155"}],"version-history":[{"count":2,"href":"http:\/\/mathfinance.sns.it\/index.php\/wp-json\/wp\/v2\/posts\/1155\/revisions"}],"predecessor-version":[{"id":1157,"href":"http:\/\/mathfinance.sns.it\/index.php\/wp-json\/wp\/v2\/posts\/1155\/revisions\/1157"}],"wp:attachment":[{"href":"http:\/\/mathfinance.sns.it\/index.php\/wp-json\/wp\/v2\/media?parent=1155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/mathfinance.sns.it\/index.php\/wp-json\/wp\/v2\/categories?post=1155"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/mathfinance.sns.it\/index.php\/wp-json\/wp\/v2\/tags?post=1155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n<\/strong><\/p>\n
\nin which overconfidence generates disagreements among two groups
\nregarding asset fundamentals. Every agent in trading wants to sell
\nmore than the average stock price in the market. However, the
\noverconfident agent drives a speculative bubble with a false belief
\nthat the stock price will tend to move to the average price over time.
\nI represent the difference between a false belief and a stochastic
\nstationary process which does not change when shifted in time. The gap
\nof beliefs shows how to accommodate dynamic fluctuations as parameters
\nchange such as the degree of overconfidence or the information of
\nsignals. By showing how changes in an expectation operator affect the
\nstochastic variance of economic fundamentals, speculative bubbles are
\nrevealed at the burst independently from the market.<\/p>\n","protected":false},"excerpt":{"rendered":"