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Individual Expectations and Aggregate Behavior in Learning-to-Forecast Experiments
| dc.contributor.author | Hommes, Cars | |
| dc.contributor.author | Lux, Thomas | |
| dc.date.accessioned | 2013-07-17T07:50:09Z | |
| dc.date.available | 2013-07-17T07:50:09Z | |
| dc.date.issued | 2013 | |
| dc.identifier.issn | 1365-1005 | |
| dc.identifier.issn | 1469-8056 | |
| dc.identifier.uri | http://hdl.handle.net/10234/70923 | |
| dc.description.abstract | 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. | ca_CA |
| dc.description.sponsorShip | Financial support from the EU, through POLHIA Grant 225408 and Complex Markets Grant 516446, is gratefully acknowledged. We are also particularly grateful to Simone Alfarano, Jasmina Arifovic, Reiner Franke, Juliette Rouchier, Jan Tuinstra and Frank Westerhoff for helpful comments and discussions. | ca_CA |
| dc.format.extent | 43 p. | ca_CA |
| dc.format.mimetype | application/pdf | ca_CA |
| dc.language.iso | spa | ca_CA |
| dc.publisher | Cambridge University Press | ca_CA |
| dc.relation.isPartOf | Macroeconomic Dynamics (2013) 17(2) , pp 373-401 | ca_CA |
| dc.relation.isVersionOf | Kiel Working Paper (2008) núm. 1466, p. 1-43 | ca_CA |
| dc.rights | Copyright © Cambridge University Press 2011 | ca_CA |
| dc.rights.uri | http://rightsstatements.org/vocab/InC/1.0/ | * |
| dc.subject | Learning | ca_CA |
| dc.subject | Heterogeneous Expectations | ca_CA |
| dc.subject | Genetic Algorithms | ca_CA |
| dc.subject | Experimental Economics | ca_CA |
| dc.title | Individual Expectations and Aggregate Behavior in Learning-to-Forecast Experiments | ca_CA |
| dc.type | info:eu-repo/semantics/article | ca_CA |
| dc.identifier.doi | http://dx.doi.org/10.1017/S1365100511000162 | |
| dc.rights.accessRights | info:eu-repo/semantics/openAccess | ca_CA |
| dc.relation.publisherVersion | http://journals.cambridge.org/action/displayAbstract?fromPage=online&aid=8852431 | ca_CA |
| dc.type.version | info:eu-repo/semantics/publishedVersion |
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