http://hdl.handle.net/10453/255 Tue, 18 Jun 2013 22:25:23 GMT 2013-06-18T22:25:23Z http://hdl.handle.net/10453/12757 Is the MBA sustainable? Degrees of change Benn Suzanne; Bubna-Litic David Galea, C Thu, 01 Jan 2004 00:00:00 GMT http://hdl.handle.net/10453/12757 2004-01-01T00:00:00Z http://hdl.handle.net/10453/12462 Design of choice experiments in health economics Burgess Leonie; Street Deborah; Viney Rosalie; Louviere Jordan Jones, A M Sun, 01 Jan 2006 00:00:00 GMT http://hdl.handle.net/10453/12462 2006-01-01T00:00:00Z http://hdl.handle.net/10453/12379 An asset pricing model with adaptive heterogeneous agents and wealth effects Chiarella Carl; He Xuezhong Lux, T; Reitz S; Samanidou E The characterisation of agents' preferences by decreasing absolute risk aversion (DARA) and constant relative risk aversion (CRRA) are well documented in the literature and also supported in both empirical and experimental studies. This paper considers a financial market with heterogeneous agents having power utility functions, which are the only utility functions displaying both DARA and CRRA. By introducing a population weighted average wealth measure, we develop an adaptive model to characterise asset price dynamics as well as the evolution of population proportions and wealth dynamics. Some numerical simulations are included to illustrate the evolution of the wealth dynamics, market behaviour and market efficiency within the framework of heterogeneous agents. Sat, 01 Jan 2005 00:00:00 GMT http://hdl.handle.net/10453/12379 2005-01-01T00:00:00Z http://hdl.handle.net/10453/11712 An adaptive model of asset price and wealth dynamics in a market with heterogeneous trading strategies Chiarella Carl; He Xuezhong Seese, D; Weinhardt, C; Schlottmann, F The traditional asset-pricing models ¿ such as the capital asset pricing model (CAPM) of [42] and [34], the arbitrage pricing theory (APT) of [40], or the intertemporal capital asset pricing model (ICAPM) of [38] ¿ have as one of their important assumptions, investor homogeneity. In particular the paradigm of the representative agent assumes that all agents are homogeneous with regard to their preferences, their expectations and their investment strategies.1 However, as already argued by Keynes in the 1930s, agents do not have sufficient knowledge of the structure of the economy to form correct mathematical expectations that would be held by all agents Tue, 01 Jan 2008 00:00:00 GMT http://hdl.handle.net/10453/11712 2008-01-01T00:00:00Z