Accepted:
15 Oct 1998
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/vol06/kaizoji/ | © Copyright 2001 | |||
| Volume 06 | Received: Accepted: |
01 Jul 1998 15 Oct 1998 |
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Complex Dynamics of Speculative Price
Taisei Kaizoji |
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| Abstract | |
| In this paper we think of the security market as consisting of two types of investors: fundamentalists and bandwagon traders, and propose a heterogeneous agent model that represents speculative dynamics by using the Synergetic approach [ 17 ]. We show the characteristic patterns of speculative price (speculative bubbles and speculative chaos) which are generated by trading between the fundamentalists and bandwagon traders. | |
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