Resource title

Individual expectations and aggregate behavior in learning to forecast experiments

Resource image

image for OpenScout resource :: Individual expectations and aggregate behavior in learning to forecast experiments

Resource description

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.

Resource author

Cars Hommes, Thomas Lux

Resource publisher

Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/24861

Resource license

Adapt according to the presented license agreement and reference the original author.