Schumpeterian Dynamics and Financial Market Anomalies

This file is part of IDEAS, which uses RePEc data

Schumpeterian Dynamics and Financial Market Anomalies

Author Info

Thomas Grebel () (University of Augsburg, Department of Economics)
Horst Hanusch () (University of Augsburg, Department of Economics)
Esther Merey (University of Augsburg, Department of Economics)

Additional information is available for the following registered author(s):

Abstract

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.

Download Info
To download:

If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

Publisher Info
Paper provided by Universitaet Augsburg, Institute for Economics in its series Discussion Paper Series with number 264.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: pages
Date of creation: May 2004
Date of revision:
Handle: RePEc:aug:augsbe:0264

Contact details of provider:
Postal: Universitaetsstrasse 16, D-86159 Augsburg, Germany
Phone: +49 821 598 4189
Fax: +49 821 598 4217
Email:
Web page: http://www.wiwi.uni-augsburg.de/vwl/institut
More information through EDIRC

For technical questions regarding this item, or to correct its listing, contact: (Dr. Ekkehard Baron von Knorring).

Find related papers by JEL classification:
O3 - Economic Development, Technological Change, and Growth - - Technological Change
M13 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - New Firms; Startups
G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations

This paper has been announced in the following NEP Reports:

NEP-ALL-2004-05-26 (All new papers)
NEP-ENT-2004-05-26 (Entrepreneurship)
NEP-MIC-2004-05-26 (Microeconomics)

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-91, March. [Downloadable!] (restricted)
Tversky, Amos & Kahneman, Daniel, 1992. " Advances in Prospect Theory: Cumulative Representation of Uncertainty," Journal of Risk and Uncertainty, Springer, vol. 5(4), pages 297-323, October.
Thomas Grebel & Andreas Pyka & Horst Hanusch, 2001. "An Evolutionary Approach to the Theory of Entrepreneurship," Discussion Paper Series 206, Universitaet Augsburg, Institute for Economics. [Downloadable!]

Full references

Statistics
Access and download statistics

Did you know? You too can volunteer for RePEc, for example by editing a NEP report.

This page was last updated on 2009-11-8.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.