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Heterogeneous Agent Model with Memory and Asset Price Behaviour
- 1.0411077 - UTIA-B 20030064 RIV CZ eng J - Journal Article
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
R&D Projects: GA ČR GA402/00/0439; GA ČR GA402/01/0034
Institutional research plan: CEZ:AV0Z1075907
Keywords : efficient markets hypothesis * technical trading rules * heterogeneous agent model with memory and learning
Subject RIV: AH - Economics
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.
Permanent Link: http://hdl.handle.net/11104/0131164
Number of the records: 1