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An asset market with backwards price comparative statics

Author

Listed:
  • Thomas E. Cone

    (College at Brockport - SUNY)

Abstract

A simple asset market is developed in which an increase in supply can increase the equilibrium price, and an increase in demand can decrease the price. The key economic feature of the market is risk aversion. Furthermore, the equilibrium with the backward comparative statics is learnable by the market participants, even if they don't start out fully-informed rational.

Suggested Citation

  • Thomas E. Cone, 2019. "An asset market with backwards price comparative statics," Economics Bulletin, AccessEcon, vol. 39(4), pages 2441-2447.
    • Handle: RePEc:ebl:ecbull:eb-19-00907
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    File URL: http://www.accessecon.com/Pubs/EB/2019/Volume39/EB-19-V39-I4-P226.pdf
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    More about this item

    Keywords

    Microeconomics; Demand theory; Asset markets; Learning;
    All these keywords.

    JEL classification:

    • D4 - Microeconomics - - Market Structure, Pricing, and Design
    • G1 - Financial Economics - - General Financial Markets

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