Modeling the economic interaction of agents with diverse abilities to recognize equilibrium patterns

Michele Piccione; Ariel Rubinstein

doi:10.1162/154247603322256819

Modeling the economic interaction of agents with diverse abilities to recognize equilibrium patterns

Michele Piccione^*, Ariel Rubinstein

^*Corresponding author for this work

School of Economics

Research output: Contribution to journal › Article › peer-review

Abstract

We model differences among agents in their ability to recognize temporal patterns of prices. Using the concept of DeBruijn 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 recognized only by the more competent agents.

Original language	English
Pages (from-to)	212-223
Number of pages	12
Journal	Journal of the European Economic Association
Volume	1
Issue number	1
DOIs	https://doi.org/10.1162/154247603322256819
State	Published - Mar 2003

Access to Document

10.1162/154247603322256819

Cite this

@article{9e280b1faade4d86b6412037713ff88c,

title = "Modeling the economic interaction of agents with diverse abilities to recognize equilibrium patterns",

abstract = "We model differences among agents in their ability to recognize temporal patterns of prices. Using the concept of DeBruijn 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 recognized only by the more competent agents.",

author = "Michele Piccione and Ariel Rubinstein",

year = "2003",

month = mar,

doi = "10.1162/154247603322256819",

language = "אנגלית",

volume = "1",

pages = "212--223",

journal = "Journal of the European Economic Association",

issn = "1542-4774",

publisher = "Wiley-Blackwell",

number = "1",

}

TY - JOUR

T1 - Modeling the economic interaction of agents with diverse abilities to recognize equilibrium patterns

AU - Piccione, Michele

AU - Rubinstein, Ariel

PY - 2003/3

Y1 - 2003/3

N2 - We model differences among agents in their ability to recognize temporal patterns of prices. Using the concept of DeBruijn 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 recognized only by the more competent agents.

AB - We model differences among agents in their ability to recognize temporal patterns of prices. Using the concept of DeBruijn 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 recognized only by the more competent agents.

UR - http://www.scopus.com/inward/record.url?scp=33646736265&partnerID=8YFLogxK

U2 - 10.1162/154247603322256819

DO - 10.1162/154247603322256819

M3 - ???researchoutput.researchoutputtypes.contributiontojournal.article???

AN - SCOPUS:33646736265

SN - 1542-4774

VL - 1

SP - 212

EP - 223

JO - Journal of the European Economic Association

JF - Journal of the European Economic Association

IS - 1

ER -

Modeling the economic interaction of agents with diverse abilities to recognize equilibrium patterns

Abstract

Access to Document

Other files and links

Fingerprint

Cite this