Similar Search Results

Asset price dynamics when behavioural heterogeneity varies

Colucci, Domenico; Valori, Vincenzo - Dipartimento di Scienze per l'Economia e l'Impresa, … - 2006

We build a model in which asset prices are expectationally driven and agents forecast future prices hinging on a combination of fundamental value, trend and inertia. The model has a unique steady state and we investigate its stability. In particular the amount of behavioural heterogeneity in the...

Persistent link: https://www.econbiz.de/10008555461

Ways of learning in a simple economic setting: a comparison

Colucci, Domenico; Valori, Vincenzo - Dipartimento di Scienze per l'Economia e l'Impresa, … - 2005

of descriptive capacity of forms of generalised adaptive expectations allowing for endogenous gain parameters. …

Persistent link: https://www.econbiz.de/10008555462

Adaptive learning in the Cobweb with an endogenous gain sequence

Colucci, Domenico; Valori, Vincenzo - Dipartimento di Scienze per l'Economia e l'Impresa, … - 2004

We develop a learning rule that generalises the well known fading memory learning in the sense that the weights attached to the available time series data are not constant and are updated in light of the forecast error(s). The underlying idea is that confidence in the available data will be low...

Persistent link: https://www.econbiz.de/10008559137

Heterogeneous adaptive expectations and cobweb phenomena

Colucci, Domenico; Valori, Vincenzo - Dipartimento di Scienze per l'Economia e l'Impresa, … - 2009

supply. The firms are assumed to differ in a key parameter governing price expectations which we suppose to be adaptive. We … actually observe expectations, whereas it is easier to measure some structural features of a given market, such as the relevant … defines their expectations - are sampled independently from a population described by a given probability distribution. In …

Persistent link: https://www.econbiz.de/10005103428

Per un’Interpretazione del Dualismo Italiano: Complementarità Istituzionale o Isteresi Congiunturale?

Bellanca, Nicolò - Dipartimento di Scienze per l'Economia e l'Impresa, … - 2012

In questa nota si discutono le recenti ricerche quantitative sulla storia economica italiana post-unitaria. Si valutano, sulla base di tali ricerche, alcuni recenti contributi alla letteratura sul dualismo tra Nord e Sud d’Italia. Infine si propongono due schemi teorici, basati su categorie...

Persistent link: https://www.econbiz.de/10010678533

The Polytheistic Condition: Incomparable Assets and Special Currency

Aria, Matteo; Bellanca, Nicolò - Dipartimento di Scienze per l'Economia e l'Impresa, … - 2012

In this paper we intend to rethink and to reinforce the arguments of the authors who critique the mainstream economic theories and the rational choice theory. We start asserting that a fundamental anthropological condition of the choice is the incomparability of many alternatives and that in...

Persistent link: https://www.econbiz.de/10010678535

Le Traiettorie Reticolari dell'Innovazione Territoriale

Bellanca, Nicolò; Lombardi, Mauro - Dipartimento di Scienze per l'Economia e l'Impresa, … - 2010

Traditions of studies dating back to Marshall, Porter and Krugman interpreted Local socio-economic systems (LSS) mainly considering the spatial proximity of the actors. It was the local anchorage that enabled an increase in specific forms of external economies, competitive advantages and...

Persistent link: https://www.econbiz.de/10008671227

Not-dividing the Indivisible: Formation of the Sacred and Antagonistic Conflicts

Bellanca, Nicolò; Innocenti, Stefani - Dipartimento di Scienze per l'Economia e l'Impresa, … - 2013

Indivisibilities are at the core of economic theory as rarely individuals can or want to limitlessly divide goods, inputs and activities, as well as related economic phenomena such as economies of scale, externalities and public goods. Indivisibilities help in explaining conflicts over social...

Persistent link: https://www.econbiz.de/10010857763

The four figures of gift: kula, potlatch, dan e hau

Aria, Matteo; Bellanca, Nicolò - Dipartimento di Scienze per l'Economia e l'Impresa, … - 2012

Drawing on actual reinterpretation of Mauss’s classical essay on “the Gift”, the authors examine four ideal-typical forms of gift which recur in the anthropologic literature, and theoretically analyze them under relevant contemporary phenomena. Kula - as reciprocity gift-, Potlach – as...

Persistent link: https://www.econbiz.de/10010857765

Can endogenous participation explain price volatility? Evidence from an agent-based cobweb model.

Colucci, Domenico; Valori, Vincenzo - Dipartimento di Scienze per l'Economia e l'Impresa, … - 2011

-parameters adaptive expectations. Additional insights are provided by the numerical simulations of the model. The saliency of the …

Persistent link: https://www.econbiz.de/10008855850