Cookies?
Library Header Image
LSE Research Online LSE Library Services

Modelling the economic interaction of agents with diverse abilities to recognise equilibrium patterns

Piccione, Michele and Rubinstein, Ariel (2002) Modelling the economic interaction of agents with diverse abilities to recognise equilibrium patterns. Theoretical Economics; TE/2002/440 (TE/02/440). Suntory and Toyota International Centres for Economics and Related Disciplines, London, UK.

[img]
Preview
PDF
Download (265kB) | Preview

Abstract

We model differences among agents in their ability to recognise temporal patterns of prices. Using the concept of DeBruijin 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 recognised only by the more competent agents.

Item Type: Monograph (Discussion Paper)
Official URL: http://sticerd.lse.ac.uk
Additional Information: © 2002 the authors
Divisions: Economics
STICERD
Subjects: H Social Sciences > HB Economic Theory
JEL classification: D - Microeconomics > D4 - Market Structure and Pricing
C - Mathematical and Quantitative Methods > C7 - Game Theory and Bargaining Theory
Date Deposited: 27 Apr 2007
Last Modified: 15 Sep 2023 22:51
URI: http://eprints.lse.ac.uk/id/eprint/2061

Actions (login required)

View Item View Item

Downloads

Downloads per month over past year

View more statistics