Bookcover of Phase Transition in a Bounded Rational Speculative and Hedging Model
Booktitle:

Phase Transition in a Bounded Rational Speculative and Hedging Model

LAP LAMBERT Academic Publishing (2017-08-23 )

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ISBN-13:

978-620-2-00467-1

ISBN-10:
6202004673
EAN:
9786202004671
Book language:
English
Blurb/Shorttext:
The authors create an economic model of two interacting markets with bounded rational agents that exhibits emergence of market preference arising from a broken market-exchange symmetry. Such emergence can cause agents to move money from one market into the other, resulting in a market crash in certain scenarios. The market-exchange symmetry, and its breaking, gives a statistical mechanics perspective to the ideas of the Sonnenschein-Mantel-Debreu theorem.
Publishing house:
LAP LAMBERT Academic Publishing
Website:
https://www.lap-publishing.com/
By (author) :
Michael Campbell, David Carfì
Number of pages:
128
Published on:
2017-08-23
Stock:
Available
Category:
Economics
Price:
55.90 €
Keywords:
Bounded Rationality, Econophysics, Emergence, Financial Risk, Game theory, hedging, Nash equilibrium, Phase Transition, Speculation, statistical mechanics, Cross-hedging, Currency Markets, Financial Transaction Taxes, Gibbs Equilibrium, Potential Games

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