Similar Search Results

Behavioral and experimental macroeconomics and policy analysis : a complex systems approach

Hommes, Cars H. - 2018

This survey discusses behavioral and experimental macroeconomics emphasizing a complex systems perspective. The economy consists of boundedly rational heterogeneous agents who do not fully understand their complex environment and use simple decision heuristics. Central to our survey is the...

Persistent link: https://www.econbiz.de/10011929804

Can we manage first impressions in cooperation problems? : an experimental study on "Broken (and Fixed) Windows"

Engel, Christoph; Kube, Sebastian; Kurschilgen, Michael - 2011

Cooperation problems are at the heart of many everyday situations. In this paper, we propose a very simple and light-handed mechanism to sustain cooperation and test its performance in a rich laboratory environment. The mechanism moderates cooperation by controlling experiences, more...

Persistent link: https://www.econbiz.de/10009007141

Behavioral & Experimental Macroeconomics and Policy Analysis : A Complex Systems Approach

Hommes, Cars H. - 2018

Persistent link: https://www.econbiz.de/10012907638

Behavioral Learning Equilibria in New Keynesian models

Hommes, Cars H.; Mavromatis, Kostas; Özden, Tolga; Zhu, Mei - In: Quantitative economics : QE ; journal of the … 14 (2023) 4, pp. 1401-1445

We introduce Behavioral Learning Equilibria (BLE) into a multivariate linear framework and apply it to New Keynesian … Rational Expectations (REE), BLE, and constant gain learning models shows that the BLE model outperforms the REE benchmark and … is competitive with constant gain learning models in terms of in-sample and outof-sample fitness. Sample …

Persistent link: https://www.econbiz.de/10014496533

Behavioral and experimental macroeconomics and policy analysis : a complex systems approach

Hommes, Cars H. - In: Journal of economic literature 59 (2021) 1, pp. 149-219

Persistent link: https://www.econbiz.de/10012542608

Interacting agents in finance

Hommes, Cars H. - 2006

Interacting agents in finance represent a behavioral, agent-based approach in which financial markets are viewed as complex adaptive systems consisting of many boundedly rational agents interacting through simple heterogeneous investment strategies, constantly adapting their behavior in response...

Persistent link: https://www.econbiz.de/10011348701

Revealed distributional preferences: Individuals vs. teams

Balafoutas, Loukas; Kerschbamer, Rudolf; Kocher, Martin; … - In: Journal of Economic Behavior & Organization 108 (2014) C, pp. 319-330

We compare experimentally the revealed distributional preferences of individuals and teams in allocation tasks. We find that teams are significantly more benevolent than individuals in the domain of disadvantageous inequality while the benevolence in the domain of advantageous inequality is...

Persistent link: https://www.econbiz.de/10011116894

Why did he do that? : using counterfactuals to study the effect of intentions in extensive form games

Engler, Yola; Kerschbamer, Rudolf; Page, Lionel - 2016

We investigate the role of intentions in two-player two-stage games. For this purpose we systematically vary the set of opportunity sets the first mover can chose from and study how the second mover reacts not only to opportunities of gains but also of losses created by the choice of the first...

Persistent link: https://www.econbiz.de/10011480554

How social preferences shape incentives in (experimental) markets for credence goods

Kerschbamer, Rudolf; Sutter, Matthias; Dulleck, Uwe - 2015 - This Version: February 2015

Credence goods markets suffer from inefficiencies caused by superior information of sellers about the surplus-maximizing quality. While standard theory predicts that equal mark-up prices solve the credence goods problem if customers can verify the quality received, experimental evidence...

Persistent link: https://www.econbiz.de/10010479932

Gender, competition and the efficiency of policy interventions

Balafoutas, Loukas; Sutter, Matthias - 2010

Recent research has shown that women shy away from competition more often than men. We evaluate experimentally three alternative policy interventions to promote women in competitions: Quotas, Preferential Treatment, and Repetition of the Competition unless a critical number of female winners is...

Persistent link: https://www.econbiz.de/10003966947