Hohnisch, Martin; Pittnauer, Sabine; Solomon, Sorin; … - In: Physica A: Statistical Mechanics and its Applications 345 (2005) 3, pp. 646-656
We propose a stochastic model of interactive formation of individual expectations regarding the business climate in an industry. Our model is motivated by a business climate survey conducted since 1960 in Germany by the Ifo-institute (www.ifo.de). In accordance with the data structure of this...