Resource title

Schumpeterian dynamics and financial market anomalies

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Resource description

In this paper we try to put together both the dynamics of the endogenous evolution of an industry and the corresponding dynamics on the capital market. The first module of our modelling efforts is the endogenous evolution of the industry based on the micro-behaviour of boundedly rational agents. They strive to undertake entrepreneurial actions and found new firms. Thereby, the role of knowledge diffusion is emphasized. The second module, the capital market module, will also be represented by boundedly rational agents. They read the data of the real side of the economy – induced by the real economy module – interact with other investors and eventually derive their investment decisions. The cognitive process will be modelled using a neural network approach.

Resource author

Esther Merey, Horst Hanusch, Thomas Grebel

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Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/22787

Resource license

Adapt according to the presented license agreement and reference the original author.