Das Papier untersucht, wie Erwartungsbildung mit Hilfe neuronaler Netze modelliert werden kann. Die Grundlage bildet ein Cobweb-Modell, in dem Firmen Preiserwartungen auf Basis eines Feedforward-Netzes bilden.Zunächst wird anhand von Simulationen gezeigt, daß Firmen durch neuronale...

This paper analyzes the relationship between the expectational stability of rational expectations equilibria and the possible convergence of adaptive learning processes. Results obtained using recursive least squares lead to the conjecture that a correspondence between these both selection...

This paper discusses the emergence of endogenous redistributive cycles in a stochastic growth model with incomplete asset markets and heterogeneous agents who vote on the degree of progressivity in the tax-transfer scheme. The model draws from Bénabou (in B. S. Bernanke and J. J. Rotemberg...

This paper analyzes conditions for existence of a strongly rational expectations equilibrium (SREE) in models with private information, where the amount of private information is endogenously determined. It is shown that the conditions for existence of a SREE known from models with exogenously...

This paper discusses the emergence of endogenous redistributive cycles in a stochastic growth model with incomplete asset markets and heterogeneous agents, where agents vote on the degree of progressivity in the tax-transfer-scheme. We develop two models, the first being highly-stylized, where...