Please use this identifier to cite or link to this item: http://hdl.handle.net/10995/111203
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dc.contributor.authorJungeilges, J.en
dc.contributor.authorMaklakova, E.en
dc.contributor.authorPerevalova, T.en
dc.date.accessioned2022-05-12T08:14:16Z-
dc.date.available2022-05-12T08:14:16Z-
dc.date.issued2021-
dc.identifier.citationJungeilges J. Asset Price Dynamics in a “Bull and Bear Market” / J. Jungeilges, E. Maklakova, T. Perevalova // Structural Change and Economic Dynamics. — 2021. — Vol. 56. — P. 117-128.en
dc.identifier.issn0954-349X-
dc.identifier.otherAll Open Access, Hybrid Gold3
dc.identifier.urihttp://hdl.handle.net/10995/111203-
dc.description.abstractWe generalize an existing asset market model with heterogenous agents. In particular, we consider the case in which no-trade and low-trade intervals of chartists and fundamentalists respectively are not congruent. Thus we model chartist and fundamentalists who respond to asset prices in agent-specific neighborhoods around the fundamental value with different trade intensities. The resulting asset price dynamics is generated by a one-dimensional 5-piece linear map with discontinuities. Our analysis of this map focusses on coexisting price equilibria. Conditions for their existence and stability are determined analytically. By visualizing the results we allow for a basic bifurcation analysis in a 4-dimensional parameter space. According to our findings the extent of the disparity between the no-trade and low-intervals effects the existence of equilibria but not their stability. © 2020.en
dc.format.mimetypeapplication/pdfen
dc.language.isoenen
dc.publisherElsevier B.V.en1
dc.publisherElsevier BVen
dc.rightsinfo:eu-repo/semantics/openAccessen
dc.sourceStruct. Change Econ. Dyn.2
dc.sourceStructural Change and Economic Dynamicsen
dc.subjectBEHAVIORAL ASYMMETRIESen
dc.subjectBIFURCATION ANALYSISen
dc.subjectNON-SMOOTH MAPSen
dc.subjectMARKET SYSTEMen
dc.subjectPRICE DYNAMICSen
dc.subjectTRADEen
dc.titleAsset Price Dynamics in a “Bull and Bear Market”en
dc.typeArticleen
dc.typeinfo:eu-repo/semantics/articleen
dc.typeinfo:eu-repo/semantics/publishedVersionen
dc.identifier.scopus85095460001-
local.contributor.employeeJungeilges, J., University of Agder, School of Business and Law, Department of Economics and Finance, Servicebox 422, Kristiansand S, N-4604, Norway, Ural Federal University, Institute of Natural Science and Mathematics, Ekaterinburg, Mira, 19, Russian Federation; Maklakova, E., Ural Federal University, Institute of Natural Science and Mathematics, Ekaterinburg, Mira, 19, Russian Federation; Perevalova, T., Ural Federal University, Institute of Natural Science and Mathematics, Ekaterinburg, Mira, 19, Russian Federationen
local.description.firstpage117-
local.description.lastpage128-
local.volume56-
local.contributor.departmentUniversity of Agder, School of Business and Law, Department of Economics and Finance, Servicebox 422, Kristiansand S, N-4604, Norway; Ural Federal University, Institute of Natural Science and Mathematics, Ekaterinburg, Mira, 19, Russian Federationen
local.identifier.pure20112177-
local.identifier.eid2-s2.0-85095460001-
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