讲座简介：

We develop a simple asset pricing model to incorporate social interaction in which agents with differences in opinion herd when interpreting information. We show that social interaction can lead to multiple equilibria, which provide an explanation for mispricing and volatility clustering. It also leads to momentum in short-run and reversal in long-run in the time series of asset returns.

主讲人简介：

Web: www.business.uts.edu.au

http://datasearch.uts.edu.au/business/staff/finance/details.cfm?StaffId=85