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The paper examines the effects of both ambiguity and information lifespan on the optimal investment rate as well as on the DMs' behavior. The research allows one to show that under an ambiguous setting, the end-of-period price expectation reflects the DMs' degree of perception to the market ambiguity. The authors also show that the economy characteristics have a direct impact on the learning process and that the optimal investment rate and timing embed these two parameters.
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