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This paper considers a continuous-time heterogeneous agent model of a financial market with one risky asset, two types of agents (i.e., the fundamentalists and the chartists), and three time delays. The chartist's demand is determined through a nonlinear function of the difference between the current price and a weighted moving average of the delayed prices whereas the fundamentalist's demand is governed by the difference between the current price and the fundamental value. The asset pricedoi:10.3389/fams.2016.00015 fatcat:wv7cjdcga5ek5nzurnvt25e5w4