Overconfidence, Investor Sentiment, and Evolution
Population Dynamic in Asset Markets
Population Dynamic in a Large Economy
Overconfidence in a Pairwise Contest
Investor Sentiment in a Playing-the-Field Contest
Dynamic Playing-The-Field Contest without Fundamental Risk
Dynamic Playing-The-Field Contest with Fundamental Risk
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Prof. F. Albert Wang

Overconfidence, Investor Sentiment, and Evolution
We focus our analysis on the survival of overconfidence and investor sentiment.We find that underconfidence or pessimism cannot survive, but moderate overconfidence or optimism can survive and even dominate, particularly when the fundamental risk is large.
Prof. F. Albert Wang