Showing 1 - 10 of 89
To what extent is the observed mis-pricing in experimental asset markets caused by strategic uncertainty (SU) and by individual bounded rationality (IBR)? We address this question by comparing subjects initial price forecasts in two market environments - one with six human traders, and the other...
Persistent link: https://www.econbiz.de/10010933940
fundamental values in 1EH5H than in the final round of the experiment in which they had previously participated. Furthermore, the …
Persistent link: https://www.econbiz.de/10010899643
both an equilibrium where all invest and an equilibrium where no one invests can occur. In a Lab experiment, a large number …
Persistent link: https://www.econbiz.de/10010898452
behavior of others. We present an experiment in which agents' optimal actions are a weighted average of the fundamental state …
Persistent link: https://www.econbiz.de/10010899693
Using a field experiment in China, we study whether migration status is correlated with attitudes toward risk …
Persistent link: https://www.econbiz.de/10010899744
In games with strategic complementarities, public information about the state of the world has a larger impact on equilibrium actions than private information of the same precision, because the former is more informative about the likely behavior of others. This may lead to welfare-reducing...
Persistent link: https://www.econbiz.de/10010899905
Ce papier présente un modèle macroéconomique qui associe étroitement théorie de la monnaie endogène et approche multi-agents. C'est un modèle décentralisé, peuplé d'agents multiples, hétérogènes, autonomes et concurrents qui interagissent simultanément dans les sphères réelle et...
Persistent link: https://www.econbiz.de/10008792906
This paper studies the potential commitment value of cheap talkinflation announcements in an agent-based dynamic extension of theKydland-Prescott model. In every period, the policy maker makesa non-binding inflation announcement before setting the actualinflation rate. It updates its decisions...
Persistent link: https://www.econbiz.de/10008794261
Inspired by the recent literature on aggregation theory, we aim at relating the long range correlation of the stocks return volatility to the heterogeneity of the investors' expectations about the level of the future volatility. Based on a semi-parametric model of investors' anticipations, we...
Persistent link: https://www.econbiz.de/10008794780
We investigate subjective reactions when subjects realize they have been victims of framing-effects in situations of risky choices - that is, when they violated the invariance principle in decision-theory. We try to assess various explanations of this violation in terms of bounded rationality...
Persistent link: https://www.econbiz.de/10008790778