- Individual expectations and aggregate behavior in learning to forecast experiments
- Number of pages
- Amsterdam: Universiteit van Amsterdam
- CeNDEF Working Paper University of Amsterdam
- Volume | Edition (Serie)
- Document type
- Working paper
- Faculty of Economics and Business (FEB)
- Amsterdam School of Economics Research Institute (ASE-RI)
- 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.
If you believe that digital publication of certain material infringes any of your rights or (privacy) interests, please let the Library know, stating your reasons. In case of a legitimate complaint, the Library will make the material inaccessible and/or remove it from the website. Please Ask the Library, or send a letter to: Library of the University of Amsterdam, Secretariat, Singel 425, 1012 WP Amsterdam, The Netherlands. You will be contacted as soon as possible.