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- W1999110462 abstract "This paper analyzes two price discovery processes: OLS learning from public information and a Bayesian learning made feasible by futures markets. The former tends to produce cobweb behaviour. In the latter, there is no cobweb, there is a faster convergence to Muth Rational Expectations, and the forecast errors are positively serially correlated The evidence drawn from the Sydney Futures Exchange is consistent with the Bayesian learning process." @default.
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- W1999110462 date "1992-12-01" @default.
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- W1999110462 title "Price Discovery Processes" @default.
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- W1999110462 doi "https://doi.org/10.1111/j.1475-4932.1992.tb02294.x" @default.
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