Presenting Evolutionary Finance Models with Short Selling and Endogenous Asset Supply at 12:15-13:30 in QA406.
On 16th April 2019 we have Sergei Belkov of University of Manchester visiting us. He is going to give a seminar titled Evolutionary Finance Models with Short Selling and Endogenous Asset Supply at 12:15-13:30 in room A406 in Building Q, Budapest University of Technology and Economics, Faculty of Economic and Social Sciences, Magyar tudósok körútja 2, 1117 Budapest. Sandwiches will be provided. Please register. Also see our Facebook event.
Abstract: Evolutionary Finance focuses on questions of “survival and extinction” of investment strategies (portfolio rules) in the market selection process. It analyzes stochastic dynamics of financial markets in which asset prices are determined endogenously by a short-run equilibrium between supply and demand. Equilibrium is formed in each time period in the course of interaction of portfolio rules of competing market participants. A comprehensive theory of evolutionary dynamics of this kind has been developed for models in which short selling is not allowed and asset supply is exogenous. The present paper extends the theory to a class of models with short selling and endogenous asset supply.