Individual Expectations and Aggregate Behavior in Learning-to-Forecast Experiments
Metadades
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INVESTIGACIONMetadades
Títol
Individual Expectations and Aggregate Behavior in Learning-to-Forecast ExperimentsData de publicació
2013Editor
Cambridge University PressISSN
1365-1005; 1469-8056Tipus de document
info:eu-repo/semantics/articleVersió de l'editorial
http://journals.cambridge.org/action/displayAbstract?fromPage=online&aid=8852431Versió
info:eu-repo/semantics/publishedVersionParaules clau / Matèries
Resum
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. [-]
Publicat a
Macroeconomic Dynamics (2013) 17(2) , pp 373-401Drets d'accés
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info:eu-repo/semantics/openAccess
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info:eu-repo/semantics/openAccess
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