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We report on an experiment testing the empirical relevance of least squares (LS) learning, a common way of modelling … in the independent variable of the model. We consider several alternatives to least squares learning and find evidence …
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Rational Expectations (RE) models have two crucial dimensions: agents correctly forecast future prices given all available information, and given expectations, agents solve optimization problems and these solutions in turn determine actual price realizations. Experimental testing of such models...
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