This paper advances an intuitive representation of Keynes's notion of long-term expec- tation. 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.
Basili, M., Chateauneuf, A., Curatola, G., Scianna, G. (2023). A representation of Keynes’s long-term expectation in financial markets. INTERNATIONAL JOURNAL OF THEORETICAL AND APPLIED FINANCE, 26(6-7), 1-20 [10.1142/S0219024923500255].
A representation of Keynes’s long-term expectation in financial markets
BASILI, MARCELLO
;CHATEAUNEUF, ALAIN;CURATOLA, GIULIANO;SCIANNA, GIUSEPPE
2023-01-01
Abstract
This paper advances an intuitive representation of Keynes's notion of long-term expec- tation. 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.
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Utilizza questo identificativo per citare o creare un link a questo documento:
https://hdl.handle.net/11365/1255154