The heterogeneous expectations hypothesis: some evidence from the lab
| Authors | |
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| Publication date | 2010 |
| Series | CeNDEF working paper, 10-06 |
| Number of pages | 51 |
| Publisher | Amsterdam: Universiteit van Amsterdam |
| Organisations |
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| Abstract | This paper surveys learning to forecast experiments (LtFEs) with human subjects to test theories of expectations and learning. Subjects must repeatedly forecast a market price, whose realization is an aggregation of individual forecasts. Emphasis is given to how individual forecasting rules interact at the micro level and which structure they co-create at the aggregate, macro level. In particular, we focus on the question wether the evidence from laboratory experiments is consistent with heterogeneous expectations. |
| Document type | Working paper |
| Language | English |
| Published at | http://www1.fee.uva.nl/cendef/publications/papers/HommesCEF2009WP.pdf |
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