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Fading Memory Learning in the Cobweb Model with Risk Averse Heterogeneous Producers
Chiarella, Carl; He, Xue-Zhong; Zhu, Peiyuan - Finance Discipline Group, Business School - 2003
memory decay rate of the learning GPD. The dynamics of such heterogeneous learning processes and capability of producers …' learning are discussed. It is found that the learning memory decay rate of the GDP of heterogeneous producers plays a …
Persistent link: https://www.econbiz.de/10004984482
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Stability and Cycles in a Cobweb Model with Heterogeneous Expectations
Lasselle, Laurence; Svizzero, Serge; Tisdell, Clem - Centre for Dynamic Macroeconomic Analysis, University … - 2007
We investigate the dynamics of a cobweb model with heterogeneous beliefs, generalizing the example of Brock and Hommes (1997). We examine situations where the agents form expectations by using either rational expectations, or a type of adaptive expectations with limited memory defined from the...
Persistent link: https://www.econbiz.de/10005696957
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Adverse selection, heterogeneous beliefs, and evolutionary learning
Buchen, Clemens; Palermo, Alberto - 2021
version of a cobweb model. In an evolutionary learning set-up, which is imitative, principals can have different beliefs about …
Persistent link: https://www.econbiz.de/10012607986
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Adverse selection, heterogeneous beliefs, and evolutionary learning
Buchen, Clemens; Palermo, Alberto - In: Dynamic games and applications : DGA 12 (2022) 2, pp. 343-362
Persistent link: https://www.econbiz.de/10013198688
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Cognitive ability, character skills, and learning to play equilibrium : a level-k analysis
Gill, David; Prowse, Victoria L. - 2014
understand better how subjects with different cognitive abilities learn differently, we estimate a structural model of learning … ability to that of character skills, and find that both cognition and personality affect behavior and learning. More agreeable …
Persistent link: https://www.econbiz.de/10010364492
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Cognitive ability, character skills, and learning to play equilibrium : a level-k analysis
Gill, David; Prowse, Victoria - 2014
Persistent link: https://www.econbiz.de/10010365624
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Endogeneous quantal response equilibrium for normal form games
Gressani, Oswaldo - 2015
Persistent link: https://www.econbiz.de/10011411966
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What does economics assume about people's knowledge? : who knows?
Caleiro, António - 2007 - 1st version: April 15, 2007, this version: October 16, 2007
rationality behaviour by people. Quite recent developments in the Economics of Knowledge, i.e. the so-called learning models, have …
Persistent link: https://www.econbiz.de/10011502970
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Dynamic voluntary contribution to a public good : learning to be a free rider
Clemens, Christiane; Riechmann, Thomas - 2001
learning process of purely and impurely altruistic agents and find that in both cases the contribution level converges towards … corresponds to findings from experiments on voluntary contribution to a public good. Crucial determinants of the learning process …
Persistent link: https://www.econbiz.de/10011525818
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Social learning with model misspeciification : a framework and a robustness result
Bohren, J. Aislinn; Hauser, Daniel - 2018
Persistent link: https://www.econbiz.de/10012000921