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Heterogeneous beliefs and routes to chaos in a simple asset pricing model

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  • Brock, William A.
  • Hommes, Cars H.

Abstract

This paper investigates the dynamics in the simple present discounted value asset pricing model with heterogeneous beliefs.
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Suggested Citation

  • Brock, William A. & Hommes, Cars H., 1998. "Heterogeneous beliefs and routes to chaos in a simple asset pricing model," Journal of Economic Dynamics and Control, Elsevier, vol. 22(8-9), pages 1235-1274, August.
    • Handle: RePEc:eee:dyncon:v:22:y:1998:i:8-9:p:1235-1274
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    More about this item

    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates

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