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Evolutionary economics and household behavior
Horioka, Charles - 2014
neoclassical assumption of selfish utility maximization with bounded rationality and satisficing and by incorporating the reaction …
Persistent link: https://www.econbiz.de/10010390070
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Evolutionary economics and household behavior
Horioka, Charles - 2014
neoclassical assumption of selfish utility maximization with bounded rationality and satisficing and by incorporating the reaction …
Persistent link: https://www.econbiz.de/10010390395
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Why Blu-ray vs. HD-DVD is not VHS vs. Betamax : the co-evolution of standard-setting consortia
Christ, Julian P.; Slowak, André P. - 2009
Extensive research has been conducted on the economics of standards in the last three decades. To date, standard-setting studies emphasize a superior role of demand-side-driven technology diffusion; these contributions assume the evolution of a user-driven momentum and network externalities. We...
Persistent link: https://www.econbiz.de/10003958872
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Why blu-ray vs. HD-DVD is not VHS vs. Betamax : the co-evolution of standard-setting consortia
Christ, Julian P.; Slowak, André P. - 2009
Extensive research has been conducted on the economics of standards in the last three decades. To date, standard-setting studies emphasize a superior role of demand-side-driven technology diffusion; these contributions assume the evolution of a user-driven momentum and network externalities. We...
Persistent link: https://www.econbiz.de/10010485388
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Why Blu-Ray vs. HD-DVD is Not VHS vs. Betamax : The Co-Evolution of Standard-Setting Consortia
Christ, Julian Phillip - 2012
Extensive research has been conducted on the economics of standards in the last three decades. To date, standard-setting studies emphasize a superior role of demand-side-driven technology diffusion; these contributions assume the evolution of a user-driven momentum and network externalities. We...
Persistent link: https://www.econbiz.de/10013116016
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Eductive Stability May not Imply Evolutionary Stability in the Presence of Information Costs
Naimzada, Ahmad Kabir - 2019
Starting from a Muthian cobweb model, we extend the profit-based evolutionary setting in Hommes and Wagener (2010) populated by pessimistic, optimistic and unbiased fundamentalists, by assuming that agents face heterogeneous information costs, inversely proportional to the entity of their bias....
Persistent link: https://www.econbiz.de/10012871322
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Why Blu-Ray vs. HD-DVD is not VHS vs. Betamax : The Co-Evolution of Standard-Setting Consortia
Christ, Julian Phillip; Slowak, André - 2012
Extensive research has been conducted on the economics of standards in the last three decades. To date, standard-setting studies emphasize a superior role of demand-side-driven technology diffusion; these contributions assume the evolution of a user-driven momentum and network externalities. We...
Persistent link: https://www.econbiz.de/10014194160
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Heterogeneous expectations among professional forecasters
Conrad, Christian; Lahiri, Kajal - 2023
Macroeconomic expectations of various economic agents are characterized by substantial cross-sectional heterogeneity …. In this paper, we focus on expectations heterogeneity among professional forecasters. We first present stylized facts and … discuss theoretical explanations for heterogeneous expectations. We then provide an overview of the empirical evidence …
Persistent link: https://www.econbiz.de/10014476375
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Bayesian learning and expectations formation: Anything goes
Albert, Max - 1996
The paper proves that the Bayesian approach to learning and expectations formation implies no propositions that could … observations, and the assumption of Bayesian rationality. Since no betting strategy is irrational, Bayesianism is useless as a …
Persistent link: https://www.econbiz.de/10010311263
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Quantifying qualitative survey data : new insights on the (ir)rationality of firms' forecasts
Botsis, Alexandros; Görtz, Christoph; Sakellarēs, … - 2020
particular violation of the Full Information Rational Expectations hypothesis that requires explanation. In contrast, minor …
Persistent link: https://www.econbiz.de/10012174792