Speculative Dynamics and the Role of Feedback Traders
收藏NBER1990-01-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w3243
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资源简介：
This paper summarizes our earlier research documenting the characteristic speculative dynamics of many asset markets and suggests a framework for understanding them. Our model incorporates "feedback traders," traders whose demand is based on the history of past returns rather than the expectation of
提供机构：
美国国家经济研究局
创建时间：
1990-01-01
