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Bubble formation and (in)efficient markets in learning-to-forecast and -optimise experiments
Te, Bao; Hommes, Cars H.; Makarewicz, Tomasz - 2015
This experiment compares the price dynamics and bubble formation in an asset market with a price adjustment rule in three treatments where subjects (1) submit a price forecast only, (2) choose quantity to buy/sell and (3) perform both tasks. We find deviation of the market price from the...
Persistent link: https://www.econbiz.de/10011333057
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Financial markets as nonlinear adaptive evolutionary systems
Hommes, Cars H. - 2001
Recent work on complex adaptive systems for modeling financialmarkets is surveyed. Financia1 markets areviewed as evolutionary systems between different, competing tradingstrategies. Agents are boundedly rational inthe sense that they tend to follow strategies that have performedwell, according...
Persistent link: https://www.econbiz.de/10011313923
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Financial markets as nonlinear adaptive evolutionary systems
Hommes, Cars H. - 2000
Persistent link: https://www.econbiz.de/10001554477
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Washington meets Wall Street : a closer examination of the presidential cycle puzzle
Kräussl, Roman; Lucas, André; Rijsbergen, David; … - 2008
Persistent link: https://www.econbiz.de/10003787145
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Washington meets Wall Street : a closer examination of the presidential cycle puzzle
Kräussl, Roman; Lucas, André; Rijsbergen, D.; Sluis, … - 2009
the presidential cycle election (PCE) theory as an alternative explanation. The PCE theory states that incumbent parties … formulate seven different propositions relating to fiscal, monetary, tax, and political implications of PCE theory. We find no … statistically significant evidence confirming the PCE theory as a plausible explanation for the presidential cycle effect. The …
Persistent link: https://www.econbiz.de/10011377245
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Consistent estimation of structural parameters in regression models with adaptive learning
Christopeit, Norbert; Massmann, Michael - 2010
Persistent link: https://www.econbiz.de/10008736921
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The rationality behind immigration preferences
Dalen, Hendrik P. van; Henkens, Kène - 2003
What drives stated preferences about the number of foreigners? Is it self-interest as stressed by the political economy of immigration? Does social interaction affect this preference or is the immigration preference completely in line with the preference for the aggregate population size? In...
Persistent link: https://www.econbiz.de/10011334329
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A theory of procedurally rational choice: optimization without evaluation
Ficco, Stefano; Karamychev, Vladimir A.; Reeven, Peran … - 2006
Persistent link: https://www.econbiz.de/10003248028
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The forward premium puzzle only emerges gradually
Bernoth, Kerstin; Hagen, Jürgen von; Vries, Casper G. de - 2007
The forward premium puzzle (FPP) is the negative correlation between the forward premium and the realized exchange rate return at maturities of a month and beyond. Some recent evidence shows that at maturities of multiple years and at the highest intra day frequency the correlation is positive...
Persistent link: https://www.econbiz.de/10011372514
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Simultaneous search and network efficiency
Gautier, Pieter; Holzner, Christian - 2011
Persistent link: https://www.econbiz.de/10009720781