Sentiment and Speculation in a Market with Heterogeneous Beliefs
CMSA 20 Garden Street, Cambridge, MA, United StatesSpeaker: Ian Martin (LSE) Title: Sentiment and Speculation in a Market with Heterogeneous Beliefs Abstract: We present a dynamic model featuring risk-averse investors with heterogeneous beliefs. Individual investors have stable beliefs and risk aversion, but agents who were correct in hindsight become relatively wealthy; their beliefs are overrepresented in market sentiment, so “the market” is bullish following good news and […]
A sharp transition for Gibbs measures associated to the nonlinear Schrödinger equation
CMSA 20 Garden Street, Cambridge, MA, United StatesSpeaker: Philippe Sosoe (Cornell) Title: A sharp transition for Gibbs measures associated to the nonlinear Schrödinger equation Abstract: In 1987, Lebowitz, Rose and Speer (LRS) showed how to construct formally invariant measures for the nonlinear Schrödinger equation on the torus. This seminal contribution spurred a large amount of activity in the area of partial differential equations […]