2026-03-13T01:22:20Z https://kaetsu.repo.nii.ac.jp/oai

oai:kaetsu.repo.nii.ac.jp:00000920 2023-06-19T09:20:21Z 3:305:307

Finite Bubbles in a Non-Bayesian Approach Finite Bubbles in a Non-Bayesian Approach Finite Bubbles in a Non-Bayesian Approach 加藤, 寛之 Bubble Bayesian Conditional probability Ambiguity Epsilon contamination Bubble Bayesian Conditional probability Ambiguity Epsilon contamination P(論文) This paper presents two players' equilibrium model in which bubbles of security prices occur in finite time even when both players know that the prices are bubbles. We firstly describe a Bayesian model with asymmetric information mainly based on Conlon (2004, Econometrica) and secondly extends it to non-Bayesian setting in which players cannot identify the true probability but a set of probabilities with ambiguity aversion employing epsilon contamination. We proved that in non-Bayesian approach asymmetry of information is not necessary for the existence of bubbles and that bubble prices rise more steeply than those in Bayesian. departmental bulletin paper 2018-03-14 application/pdf 嘉悦大学研究論集 2 60 43 53 KAETSU UNIVERSITY RESEARCH REVIEW AA1171228X https://kaetsu.repo.nii.ac.jp/record/920/files/Finite Bubbles in a Non-Bayesian Approach.pdf https://kaetsu.repo.nii.ac.jp/records/920 eng