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摘要
En 中文
Technical analysis, or the use of past prices to infer private information, has value in a model in which prices are not fully revealing and traders have rational conjectures about the relation between prices and signals. A two-period dynamic model of equilibrium is used to demonstrate that rational investors use historical prices in forming their demands and to illustrate the sensitivity of the value of technical analysis to changes in the values of the exogenous parameters.
Keyword:
RATIONAL-EXPECTATIONS EQUILIBRIUM
INFORMATION
MARKET
AGGREGATION
EFFICIENCY
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期刊
IF:
5.4
论文数:
2.8K
被引数:
3.0W
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引用论文
Stereochemistry of reduction of substituted cyclohexanones with lithium triisobutyl-n-butylaluminate

