Arbeitspapier
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 fluctuations and individual forecasting behaviour in recent learning to forecast laboratory experiments with human subjects (Hommes et al. 2007), simultaneously and across different treatments.
- Language
-
Englisch
- Bibliographic citation
-
Series: Kiel Working Paper ; No. 1466
- Classification
-
Wirtschaft
Design of Experiments: Laboratory, Individual
Design of Experiments: Laboratory, Group Behavior
Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
Expectations; Speculations
- Subject
-
Learning
heterogeneous expectations
genetic algorithms
experimental economics
Erwartungstheorie
Lernprozess
Test
Genetischer Algorithmus
Theorie
- Event
-
Geistige Schöpfung
- (who)
-
Hommes, Cars
Lux, Thomas
- Event
-
Veröffentlichung
- (who)
-
Kiel Institute for the World Economy (IfW)
- (where)
-
Kiel
- (when)
-
2008
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Hommes, Cars
- Lux, Thomas
- Kiel Institute for the World Economy (IfW)
Time of origin
- 2008
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