Heterogeneous Agent Model with Memory and Asset Price Behaviour

0411077 - UTIA-B 20030064 RIV CZ eng J - Článek v odborném periodiku
Vošvrda, Miloslav - Vácha, Lukáš
Heterogeneous Agent Model with Memory and Asset Price Behaviour.
Prague Economic Papers. Roč. 12, č. 2 (2003), s. 155-168. ISSN 1210-0455. E-ISSN 2336-730X
Grant CEP: GA ČR GA402/00/0439; GA ČR GA402/01/0034
Výzkumný záměr: CEZ:AV0Z1075907
Klíčová slova: efficient markets hypothesis * technical trading rules * heterogeneous agent model with memory and learning
Kód oboru RIV: AH - Ekonomie

The efficient markets hypothesis provides a theoretical basis on which technical trading rules (TTRs) are rejected as a viable trading strategy. TTs, providing a signal to the user when to buy or sell asset based on such price patterns, should not be useful for generating excess returns. Technical traders tend to put little faith in strict efficient markets hypothesis.
Trvalý link: http://hdl.handle.net/11104/0131164