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SUMMARY:Market Selection in Large Economies... Its just a matter of Luck!
DTSTART:20141216T120000
DTEND:20141216T130000
DTSTAMP:20260427T203641Z
UID:fb7eaa45af811eb39a46876326aeabe7410a2dbc1789f4bc8d5b8dc8
CATEGORIES:Conferences - Seminars
DESCRIPTION:Filippo MASSARI (UNSW Australia)\nThis paper investigates\, in
  a general equilibrium models with a continuum of traders\, the hypothesis
  that markets favor traders with more accurate beliefs. Contrary to the kn
 own results for economies populated by finitely many traders\, I find that
  risk attitudes have an effect on survival and that there are cases in whi
 ch the market selects against traders with correct beliefs. Remarkably\, e
 ven in these cases\, asymptotic equilibrium prices reflect accurate belief
 s. Thus\, unlike the other known violations of the market selection hypoth
 esis\, my result corroborates Freedman's conjecture that the selection for
 ces in the market support the adoption of rational expectation equilibria.
LOCATION:UNIL\, Extranef\, room 118 https://planete.unil.ch/plan/?local=EX
 T-118.1
STATUS:CONFIRMED
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