A Synergetic Approach to Speculative Price Volatility
Summary :
In this paper we propose a heterogeneous agents model that represents speculative dynamics by using the synergetic approach. We consider the markets for three securities (a stock, a bond, and a foreign currency). Each market consists of two typical types of investors: fundamentalists and bandwagon traders. We show the characteristic patterns of speculative prices (speculative bubbles and speculative chaos) which are generated by trading between the fundamentalists and bandwagon traders.
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- IEICE TRANSACTIONS on Fundamentals Vol.E82-A No.9 pp.1874-1882
- Publication Date
- 1999/09/25
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- Special Section PAPER (Special Section on Nonlinear Theory and Its Applications)
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Taisei KAIZOJI, "A Synergetic Approach to Speculative Price Volatility" in IEICE TRANSACTIONS on Fundamentals,
vol. E82-A, no. 9, pp. 1874-1882, September 1999, doi: .
Abstract: In this paper we propose a heterogeneous agents model that represents speculative dynamics by using the synergetic approach. We consider the markets for three securities (a stock, a bond, and a foreign currency). Each market consists of two typical types of investors: fundamentalists and bandwagon traders. We show the characteristic patterns of speculative prices (speculative bubbles and speculative chaos) which are generated by trading between the fundamentalists and bandwagon traders.
URL: https://global.ieice.org/en_transactions/fundamentals/10.1587/e82-a_9_1874/_p
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@ARTICLE{e82-a_9_1874,
author={Taisei KAIZOJI, },
journal={IEICE TRANSACTIONS on Fundamentals},
title={A Synergetic Approach to Speculative Price Volatility},
year={1999},
volume={E82-A},
number={9},
pages={1874-1882},
abstract={In this paper we propose a heterogeneous agents model that represents speculative dynamics by using the synergetic approach. We consider the markets for three securities (a stock, a bond, and a foreign currency). Each market consists of two typical types of investors: fundamentalists and bandwagon traders. We show the characteristic patterns of speculative prices (speculative bubbles and speculative chaos) which are generated by trading between the fundamentalists and bandwagon traders.},
keywords={},
doi={},
ISSN={},
month={September},}
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TY - JOUR
TI - A Synergetic Approach to Speculative Price Volatility
T2 - IEICE TRANSACTIONS on Fundamentals
SP - 1874
EP - 1882
AU - Taisei KAIZOJI
PY - 1999
DO -
JO - IEICE TRANSACTIONS on Fundamentals
SN -
VL - E82-A
IS - 9
JA - IEICE TRANSACTIONS on Fundamentals
Y1 - September 1999
AB - In this paper we propose a heterogeneous agents model that represents speculative dynamics by using the synergetic approach. We consider the markets for three securities (a stock, a bond, and a foreign currency). Each market consists of two typical types of investors: fundamentalists and bandwagon traders. We show the characteristic patterns of speculative prices (speculative bubbles and speculative chaos) which are generated by trading between the fundamentalists and bandwagon traders.
ER -
English
