Anufriev, Mikhail; Hommes, Cars; Philipse, Raoul - In: Journal of Evolutionary Economics 23 (2013) 3, pp. 663-688
An economic environment is a feedback system, where the dynamics of aggregate variables depend on individual expectations and vice versa. The type of feedback mechanism is crucial for the aggregate outcome. Experiments with human subjects (Heemeijer et al., J Econ Dyn Control 33:1052–1072, <CitationRef...</citationref>