Learning, rare events, and recurrent market crashes in frictionless economies without intrinsic uncertainty

DOI10.1006/JETH.1998.2436MaRDI QIDQ1270748zbMATH OpenOpenAlexFDO

Authors Alvaro Sandroni

Publication date 19 April 1999

Published in Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1006/jeth.1998.2436

zbMATH Keywords

complete marketsintrinsic uncertaintysunspots

Mathematics Subject Classification ID

Economic growth models (91B62)

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Cites work

• Asset Prices in an Exchange Economy
• Indeterminacy of stationary equilibrium in stochastic overlapping generations models
• Information, trade and common knowledge
• Learning in mis-specified models and the possibility of cycles
• Learning to Believe in Sunspots
• Necessary and sufficient conditions for convergence to Nash equilibrium: The almost absolute continuity hypothesis
• On tail probabilities for martingales
• On the structure and diversity of rational beliefs
• Price crashes, information aggregation, and market-making
• Rational Asset Pricing Bubbles
• Repeated large games with incomplete information
• Speculative Investor Behavior and Learning
• Speculative Investor Behavior in a Stock Market with Heterogeneous Expectations
• Sunspot-like effects of random endowments
• Weak and strong merging of opinions

Cited in

(3)

• Market crashes, speculation and learning in financial markets
• Hope springs eternal: Learning and the stability of cooperation in short horizon repeated games.
• Asset prices and the distribution of wealth

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