Do Markets Favor Agents able to Make Accurate Predictions?
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Publication:4530987
DOI10.1111/1468-0262.00163zbMATH Open1055.91539OpenAlexW2159754748MaRDI QIDQ4530987FDOQ4530987
Authors: Alvaro Sandroni 
Publication date: 28 May 2002
Published in: Econometrica (Search for Journal in Brave)
Full work available at URL: https://doi.org/10.1111/1468-0262.00163
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Cited In (70)
- Recursive equilibrium with price perfect foresight and a minimal state space
- The long-run behavior of consumption and wealth dynamics in complete financial market with heterogeneous investors
- Evolutionary justifications for non-Bayesian beliefs
- Optimal growth strategies in a stochastic market model with endogenous prices
- Social contagion and the survival of diverse investment styles
- Scoring Probability Forecasts by a User’s Bets Against a Market Consensus
- Capital Growth and Survival Strategies in a Market with Endogenous Prices
- Irrationality-proofness: markets versus games
- Drift criteria for persistence of discrete stochastic processes on the line
- Procedural rationality, asset heterogeneity and market selection
- Survival in Cournot games
- Rational expectations and monopolistic trades
- Live fast, die young: equilibrium and survival in large economies
- Price probabilities: a class of Bayesian and non-Bayesian prediction rules
- The dynamics of efficient asset trading with heterogeneous beliefs
- Evolutionary portfolio selection with liquidity shocks
- Market selection when markets are incomplete
- Wealth and price distribution by diffusive approximation in a repeated prediction market
- Markets do not select for a liquidity preference as behavior towards risk
- Long-run heterogeneity in an exchange economy with fixed-mix traders
- Equilibrium asset pricing with Epstein-Zin and loss-averse investors
- The possibility of informationally efficient markets
- Market selection with an endogenous state
- The wisdom of the crowd in dynamic economies
- The evolution of portfolio rules and the capital asset pricing model
- Evolution and market behavior with endogenous investment rules
- The reality game
- Optimality and natural selection in markets
- Are inefficient entrepreneurs driven out of the market?
- Ambiguity aversion in the long run: ``to disagree, we must also agree
- Market crashes, speculation and learning in financial markets
- Do asset market prices reflect traders' judgment biases?
- Existence of an equilibrium for infinite horizon economies with and without complete information
- Self-enforcement, heterogeneous agents, and long-run survival
- Markets with heterogeneous beliefs: a necessary and sufficient condition for a trader to vanish
- Momentum and reversal in financial markets with persistent heterogeneity
- Market power, survival and accuracy of predictions in financial markets
- Are biased beliefs fit to survive? An experimental test of the market selection hypothesis
- A continuous-time asset market game with short-lived assets
- Market selection and learning under model misspecification
- Live fast, die young
- Loss aversion, survival and asset prices
- MARKET SELECTION OF FINANCIAL TRADING STRATEGIES: GLOBAL STABILITY
- Living with ambiguity: prices and survival when investors have heterogeneous preferences for ambiguity
- Market selection in large economies: a matter of luck
- Market selection with learning and catching up with the Joneses
- Asset market games of survival: a synthesis of evolutionary and dynamic games
- Survival in speculative markets
- Consumption dynamics in general equilibrium: a characterisation when markets are incomplete
- Can irrational investors survive in the long run? The role of generational type transmission
- Belief heterogeneity and survival in incomplete markets
- On non-ergodic asset prices
- Market selection: hungry misers and bloated bankrupts
- Evolutionary stability of portfolio rules in incomplete markets
- What to maximize if you must
- Market selection and survival of investment strategies
- Robust control and model misspecification
- Economic Darwinism: Who has the best probabilities?
- Relative entropy in sequential decision problems
- Survival with ambiguity
- The market organism: Long-run survival in markets with heterogeneous traders
- Globally evolutionarily stable portfolio rules
- Are the least successful traders those most likely to exit the market? A survival analysis contribution to the efficient market debate
- Market selection with idiosyncratic uncertainty
- Rumours and markets
- Evolutionary game theory: a renaissance
- Market selection
- Unrealized arbitrage opportunities in naive equilibria with non-Bayesian belief processes
- Conservative traders, natural selection and market efficiency
- The dynamics of risk-sensitive allocations
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