%0 Journal Article
%T Investor Naïveté and Asset Prices
%A Jonathan Cook
%J Journal of Mathematical Finance
%P 448-453
%@ 2162-2442
%D 2013
%I Scientific Research Publishing
%R 10.4236/jmf.2013.34047
%X <p align=\"justify\">
	<span style=\"font-family:Verdana;\">This paper describes strategic behavior in a nonequilibrium model of asset pricing with heterogeneous sophistication. Both risk and return are increasing in the na?vet¨¦ of investors in the market. Optimal investment involves in considering the effect that na?e investors have on the market. Further, we derive a simple characterization of the asset price dynamics that results from an arbitrary combination of a countably infinite set of investor types.</span> 
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%K Level-&lt
%K i&gt
%K k-&lt
%K /i&gt
%K Model
%K Nonequilibrium Strategic Thinking
%K Technical Analysis
%U http://www.scirp.org/journal/PaperInformation.aspx?PaperID=38962