Market selection of financial trading strategies: Global stability

Igor V. Evstigneev, Thorsten Hens, Klaus Reiner Schenk-Hoppé

Research output: Contribution to journalArticlepeer-review


In this paper we analyze the long-run dynamics of the market selection process among simple trading strategies in an incomplete asset market with endogenous prices. We identify a unique surviving financial trading strategy. Investors following this strategy asymptotically gather total market wealth. This result generalizes findings by Blume and Easley (1992) to any complete or incomplete asset market.
Original languageEnglish
Pages (from-to)329-339
Number of pages10
JournalMathematical Finance
Issue number4
Publication statusPublished - Oct 2002


  • Evolutionary finance
  • Incomplete markets
  • Portfolio theory


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