Individual Expectations and Aggregate Behavior in Learning-to-Forecast Experiments
Metadatos
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INVESTIGACIONMetadatos
Título
Individual Expectations and Aggregate Behavior in Learning-to-Forecast ExperimentsFecha de publicación
2013Editor
Cambridge University PressISSN
1365-1005; 1469-8056Tipo de documento
info:eu-repo/semantics/articleVersión de la editorial
http://journals.cambridge.org/action/displayAbstract?fromPage=online&aid=8852431Versión
info:eu-repo/semantics/publishedVersionPalabras clave / Materias
Resumen
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. ... [+]
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 human subjects (Hommes et al. 2007), simultaneously and across different treatments. [-]
Publicado en
Macroeconomic Dynamics (2013) 17(2) , pp 373-401Derechos de acceso
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