منابع مشابه
Expectations in Experiments
e rational expectations hypothesis is one of the cornerstones of current economic theorising. is review discusses a number of experiments that focus on expectation formation by human subjects and analyses the implications for the rational expectations hypothesis. e experiments show that most agents are weakly rational and that their expectations coordinate quickly; but the strong rational ex...
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Models with heterogeneous interacting agents explain macro phenomena through interactions at the micro level. We propose genetic algorithms as a model for individual expectations to explain aggregate market phenomena. The model explains all stylized facts observed in aggregate price fluctuations and individual forecasting behaviour in recent learning to forecast laboratory experiments with huma...
متن کاملUvA - DARE ( Digital Academic Repository ) Individual expectations and aggregate behavior in learning to forecast experiments
Models with heterogeneous interacting agents explain macro phenomena through interactions at the micro level. We propose genetic algorithms as a model for individual expectations to explain aggregate market phenomena. The model explains all stylized facts observed in aggregate price uctuations and individual forecasting behaviour in recent learning to forecast laboratory experiments with human ...
متن کاملEvolutionary Selection of Individual Expectations and Aggregate Outcomes in Asset Pricing Experiments
In recent “learning to forecast” experiments (Hommes et al. 2005), three different patterns in aggregate price behavior have been observed: slow monotonic convergence, permanent oscillations, and dampened fluctuations. We show that a simple model of individual learning can explain these different aggregate outcomes within the same experimental setting. The key idea is evolutionary selection amo...
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Assessment of the cellular effects of natural and/or synthetic products is one of the major goals in biological experiments. This assessment may be conducted at different levels; cellular viability, cellular biological activity, and cellular structure and morphology. Different assays are available for any of above purposes. It is becoming of a routine exercise to apply any of these assays, and ...
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ژورنال
عنوان ژورنال: Annual Review of Economics
سال: 2014
ISSN: 1941-1383,1941-1391
DOI: 10.1146/annurev-economics-080213-040935