Markets with Heterogeneous Agents: Dynamics and Survival of Bayesian vs. No-Regret Learners

arXiv:2502.08597v3 Announce Type: replace-cross Abstract: We analyze the performance of heterogeneous learning agents in asset markets with stochastic payoffs. Our main focus is on comparing Bayesian learners and no-regret learners who compete in markets and identifying the conditions under which...