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Type | Working Paper |
Scope | Discipline-based scholarship |
Title | Market Selection of Financial Trading Strategies: Global Stability |
Organization Unit | |
Authors |
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Language |
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Institution | University of Zurich |
Series Name | Working paper series / Institute for Empirical Research in Economics |
Number | No. 83 |
ISSN | 1424-0459 |
Date | 2001 |
Abstract Text | In this paper we analyze the long-run dynamics of the market selection process among simple trading strategies in an incomplete asset market with endogenous prices. We identify a unique surviving financial trading strategy. Investors following this strategy asymptotically gather total market wealth. This result generalizes findings by Blume and Easley (1992) to any complete or incomplete asset market. |
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