Similar Search Results

Make-up strategies with incomplete markets and bounded rationality

Dobrew, Michael; Gerke, Rafael; Giesen, Sebastian; … - 2023

We study the impact of market incompleteness and bounded rationality on the effectiveness of make-up strategies. To do so, we simulate a heterogeneous-agent New Keynesian (HANK) model with reflective expectations and an occasionally-binding effective lower bound (ELB) on the policy rate. Our...

Persistent link: https://www.econbiz.de/10013493615

Monetary policy rules under bounded rationality

Dobrew, Michael; Gerke, Rafael; Kienzler, Daniel; … - 2023

We study the welfare performance of various simple monetary policy rules under bounded rationality (BR) along the lines of Gabaix (2020) in a New Keynesian model with sticky wages and an effective lower bound (ELB) on interest rates. Policy strategies with a strong history dependence lose their...

Persistent link: https://www.econbiz.de/10014320809

Behavioral economics

Mullainathan, Sendhil; Thaler, Richard H. - 2000

Persistent link: https://www.econbiz.de/10001519423

Reciprocity and cooperation in repeated coordination games : the blurry belief approach

Sandroni, Alvaro - 1997

Persistent link: https://www.econbiz.de/10000977225

Real-time hierarchical resource allocationco-workers

Van Zandt, Timothy - 1998

Persistent link: https://www.econbiz.de/10000168288

A unified theory of underreaction, momentum trading and overreaction in asset markets

Hong, Harrison G.; Stein, Jeremy C. - 1997

Persistent link: https://www.econbiz.de/10000649959

Bounding rationality by discounting time

Fortnow, Lance; Santhanam, Rahul - 2009

Consider a game where Alice generates an integer and Bob wins if he can factor that integer. Traditional game theory …

Persistent link: https://www.econbiz.de/10003921734

A sparsity-based model of bounded rationality

Gabaix, Xavier - 2011

"This paper proposes a model in which the decision maker builds an optimally simplified representation of the world … maximization problems. The agent's choice of a representation of the world features a quadratic proxy for the benefits of thinking … the world. This model yields a tractable procedure, which embeds the traditional rational agent as a particular case, and …

Persistent link: https://www.econbiz.de/10008991998

Behavioral implications of rational inattention with Shannon entropy

Caplin, Andrew; Dean, Mark - 2013

Persistent link: https://www.econbiz.de/10009788567

Housing bubbles

Glaeser, Edward L.; Nathanson, Charles G. - 2014

Persistent link: https://www.econbiz.de/10010413248