A REPRESENTATION OF KEYNES’S LONG-TERM EXPECTATION IN FINANCIAL MARKETS-Reference-Cited by-同舟云学术

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A REPRESENTATION OF KEYNES’S LONG-TERM EXPECTATION IN FINANCIAL MARKETS

Published:2024-01-06 Issue: Volume: Page:
ISSN:0219-0249
Container-title:International Journal of Theoretical and Applied Finance
language:en
Short-container-title:Int. J. Theor. Appl. Finan.

Author:

BASILI MARCELLO¹^ORCID,CHATEAUNEUF ALAIN²³,CURATOLA GIULIANO¹⁴^ORCID,SCIANNA GIUSEPPE⁵^ORCID

Affiliation:

1. Department of Economics and Statistics, University of Siena, Piazza San Francesco, 7-8 53100 Siena, Italy

2. IPAG Business School Paris, 10-12 rue du Théâtre 75015 Paris, France

3. Paris School of Economics-Centre d’Economie de la Sorbonne, Maison des Science Economiques, University of Paris-I Panthon-Sorbonne, 106-112 boulevard de l’Hôpital 75647 Paris, France

4. Leibniz Institute for Financial Research SAFE, Theodor-W.-Adorno-Platz 3, 60629 Frankfurt am Main, Germany

5. Department of Information Engineering and Mathematics, University of Siena, via Roma, 56 - 53100 Siena, Italy

Abstract

This paper advances an intuitive representation of Keynes’s notion of long-term expectation. We introduce the epsilon-contamination approach and represent the conventional judgment by the Steiner point of agents’ common probability set. We anticipate a change in conventional judgment by updating the Steiner point.

Publisher

World Scientific Pub Co Pte Ltd

Subject

General Economics, Econometrics and Finance,Finance

Link

https://www.worldscientific.com/doi/pdf/10.1142/S0219024923500255

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