[Universita] Avviso Seminario 19/11/2019 ore 16.00

[universita a list.uniparthenope.it]

Cari Colleghi,

il giorno 19 novembre alle ore 16.00 nella Sala Consiliare di Palazzo  
Pacanowski si terrà un seminario tenuto dal Prof. Massimiliano  
FERRARA, Direttore del Dipartimento di Scienze giuridiche, economiche  
e umane dell’Università Mediterranea di Reggio Calabria  
(www.unirc.it/documentazione/curriculum/curriculum787.pdf?k=c589324d)

dal titolo:

Biased Beliefs, Speculative Behavior and Representative Bubbles

Abstract

The aim of this talk is to formalize the inception of representative  
bubbles giving the condition under which they may arise. We will find  
that representative bubbles may start at any time, depending on the  
definition of a behavioral component.
This result is at odds with the theory of classic rational bubbles,  
which are those models that rely on the fulfillment of the  
transversality condition by which a bubble in a financial asset can  
arise just at its first trade. This means that a classic
rational bubble (differently from our model) cannot follow a cycle  
since if a bubble exists, it will burst by definition and never arise  
again.


Cordiali saluti,

Zelda Marino