Personal Experiences and Expectations about Aggregate Outcomes
نویسندگان
چکیده
منابع مشابه
Evolutionary Selection of Individual Expectations and Aggregate Outcomes∗
In recent ‘learning to forecast’ experiments with human subjects of Hommes, et al. (2005), three different patterns in aggregate price behavior have been observed: slow monotonic convergence, permanent price oscillations and dampened price fluctuations. These different aggregate outcomes are at odds with a representative agent who is fully rational or employs a single adaptive learning rule. We...
متن کاملHow do Expectations about the Macroeconomy A↵ect Personal Expectations and Behavior?⇤
Using a representative online panel from the U.S., we examine how people update their economic expectations and alter their economic behavior in response to changes in their macroeconomic expectations. We collect novel data on people’s subjective expectations regarding the probability of a recession and create exogenous variation in these expectations by providing respondents with di↵erent prof...
متن کاملImproving Patient Experiences and Outcomes Through Personal Care Aide Training
Introduction The rapidly aging US population is resulting in major challenges including delivering quality care at lower costs in the face of a critical health-care workforce shortage. The movement toward home care has dramatically increased the need for qualified, paid personal care aides (PCAs). Adequate PCA training that focuses on skills for person-centered, at home support is an imperative...
متن کاملOvernight Interest Rates and Aggregate Market Expectations
This paper introduces an entropy approach to measuring market expectations with respect to overnight interest rates in an inter-bank money market. The findings for the Turkish 2000-2001 borrowing crisis suggest that a dynamic, non-extensive entropy framework provides a valuable insight into the degree of aggregate market concerns during the crisis.
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...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: The Journal of Finance
سال: 2019
ISSN: 0022-1082,1540-6261
DOI: 10.1111/jofi.12819