Schumpeterian Dynamics and Financial Market Anomalies

Thomas Grebel, Horst Hanusch () and Esther Merey
Additional contact information
Horst Hanusch: University of Augsburg, Department of Economics
Esther Merey: University of Augsburg, Department of Economics

No 264, Discussion Paper Series from Universitaet Augsburg, Institute for Economics

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.

Keywords: neural networks; financial markets; entrepreneurship; endogenous evolution (search for similar items in EconPapers)
JEL-codes: D84 G11 M13 O3 (search for similar items in EconPapers)
Date: 2004-05
New Economics Papers: this item is included in nep-ent and nep-mic
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://opus.bibliothek.uni-augsburg.de/opus4/files/71190/264.pdf (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:aug:augsbe:0264

Access Statistics for this paper

More papers in Discussion Paper Series from Universitaet Augsburg, Institute for Economics Universitaetsstrasse 16, D-86159 Augsburg, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Dr. Simone Raab-Kratzmeier ().