Market Selection and Welfare in a Multi-asset Economy*

DOI10.1093/ROF/RFS009MaRDI QIDQ4554080zbMATH OpenOpenAlexFDO

Authors Yurii Fedyk, Christian Heyerdahl-Larsen, Johan Walden

Publication date 7 November 2018

Published in Review of Finance (Search for Journal in Brave)

Full work available at URL https://semanticscholar.org/paper/88a8540be6b1de1a016467ef5bd870124947ac5d

zbMATH Keywords

welfare costirrational investormulti-asset economy

Mathematics Subject Classification ID

Portfolio theory (91G10) Welfare economics (91B15)

Recommendations

• Procedural rationality, asset heterogeneity and market selection
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• A Walrasian Theory of Markets with Adverse Selection
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• Market Selection and Asymmetric Information
• Market selection with idiosyncratic uncertainty
• Optimality and natural selection in markets

Cited in

(7)

• Wealth share analysis with ``fundamentalist/chartist heterogeneous agents
• Long-run heterogeneity in an exchange economy with fixed-mix traders
• Self-enforcement, heterogeneous agents, and long-run survival
• Cross-sectional asset pricing with heterogeneous preferences and beliefs
• Consumption-based CAPM with belief heterogeneity
• Market selection with learning and catching up with the Joneses
• Market selection

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