EconPapers    
Economics at your fingertips  
 

Evolutionary Behavioural Finance

Igor V. Evstigneev, Thorsten Hens and Klaus Schenk-Hoppé
Additional contact information
Igor V. Evstigneev: University of Manchester
Thorsten Hens: University of Zürich and Swiss Finance Institute

No 15-16, Swiss Finance Institute Research Paper Series from Swiss Finance Institute

Abstract: The paper reviews a new research field that develops evolutionary and behavioural approaches for the modeling of financial markets. The main objective is to create a plausible alternative to the conventional Walrasian equilibrium theory based on the hypothesis of full rationality of market players. Rather than maximizing typically unobservable individual utility functions, traders/investors are permitted to have a whole variety of patterns of strategic behaviour depending on their individual psychology. The models considered in this field combine elements of evolutionary game theory (solution concepts) and stochastic dynamic games (strategic frameworks).

Pages: 29 pages
Date: 2015-06
New Economics Papers: this item is included in nep-evo, nep-gth, nep-hme, nep-hpe and nep-upt
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://ssrn.com/abstract=2615008 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:chf:rpseri:rp1516

Access Statistics for this paper

More papers in Swiss Finance Institute Research Paper Series from Swiss Finance Institute Contact information at EDIRC.
Bibliographic data for series maintained by Ridima Mittal ().

 
Page updated 2025-03-22
Handle: RePEc:chf:rpseri:rp1516