Kim F. Radalj

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Economists and financial analysts have begun to recognise the importance of the actions of other agents in the decision-making process. Herding is the deliberate mimicking of the decisions of other agents. Examples of mimicry range from the choice of restaurant, fashion and financial market participants, to academic research. Herding may conjure negative(More)
In the context of flexible exchange rates, Milton Friedman proposed that speculation must exert a stabilising influence upon prices to remain profitable. This generated a wealth of predominantly theoretical research into the behaviour of speculators, for which the results seem to depend critically upon the assumptions. Such theoretical models need to be(More)
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