Reflexivity in Credit Markets
收藏NBER2019-04-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w25747
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资源简介：
Reflexivity is the idea that investors biased beliefs affect market outcomes and that market outcomes in turn affect investors future biases. We develop a dynamic behavioral model of the credit cycle featuring this two-way feedback loop. Investors form beliefs about the likelihood of future defaults
提供机构：
美国国家经济研究局
创建时间：
2019-04-01
