Schumpeterian dynamics and financial market anomalies

  • In this paper we try to put together both the dynamics of the endogenous evolution of an industry and the corresponding dynamics on the capital market. The first module of our modelling efforts is the endogenous evolution of the industry based on the micro-behaviour of boundedly rational agents. They strive to undertake entrepreneurial actions and found new firms. Thereby, the role of knowledge diffusion is emphasized. The second module, the capital market module, will also be represented by boundedly rational agents. They read the data of the real side of the economy – induced by the real economy module – interact with other investors and eventually derive their investment decisions. The cognitive process will be modelled using a neural network approach.

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Metadaten
Author:Thomas GrebelORCiDGND, Horst HanuschGND, Esther Merey
URN:urn:nbn:de:bvb:384-opus4-711901
Frontdoor URLhttps://opus.bibliothek.uni-augsburg.de/opus4/71190
Series (Serial Number):Volkswirtschaftliche Diskussionsreihe (264)
Publisher:Volkswirtschaftliches Institut, Universität Augsburg
Place of publication:Augsburg
Type:Working Paper
Language:English
Year of first Publication:2004
Publishing Institution:Universität Augsburg
Release Date:2020/02/21
Tag:JEL: O3, M13, G11, D84
Pagenumber:15
Institutes:Wirtschaftswissenschaftliche Fakultät
Wirtschaftswissenschaftliche Fakultät / Institut für Volkswirtschaftslehre
Dewey Decimal Classification:3 Sozialwissenschaften / 33 Wirtschaft / 330 Wirtschaft
Journals:Volkswirtschaftliche Diskussionsreihe
Licence (German):Deutsches Urheberrecht