The Dynamics of Speculative Behaviour

UTS Working Paper No. 13

35 Pages Posted: 17 Feb 2006

See all articles by Carl Chiarella

Carl Chiarella

University of Technology, Sydney - UTS Business School, Finance Discipline Group

Date Written: January 1992

Abstract

A number of recent emirical studies cast some doubt on the random walk theory of asset prices and suggest these display significant transitory components and complex chaotic motion. This paper analyses a model of fundamentalists and chartists which can generate a number of dynamic regimes which are compatible with the recent empirical evidence.

Suggested Citation

Chiarella, Carl, The Dynamics of Speculative Behaviour (January 1992). UTS Working Paper No. 13. Available at SSRN: https://ssrn.com/abstract=883558 or http://dx.doi.org/10.2139/ssrn.883558

Carl Chiarella (Contact Author)

University of Technology, Sydney - UTS Business School, Finance Discipline Group ( email )

PO Box 123
Broadway, NSW 2007
Australia
+61 2 9514 7719 (Phone)
+61 2 9514 7711 (Fax)

HOME PAGE: http://www.business.uts.edu.au/finance/

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