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Interactive expectations
Flieth, B; Foster, J - 2002
In modeling expectation formation, economic agents are usually viewed as forming expectations adaptively or in accordance with some rationality postulate. We offer an alternative nonlinear model where agents exchange their opinions and information with each other. Such a model yields multiple...
Persistent link: https://www.econbiz.de/10009447863
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It takes more than a bubble to become Japan
Posen, Adam - 2003
bubbles, a bubble itself is not sufficient to cause real-side disruption. What central bankers should learn from Japan …
Persistent link: https://www.econbiz.de/10009472319
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A Regime Shift Model of the Recent Housing Bubble in the United States
Van Order, Robert - 2006
It has been widely assumed that there was a bubble in the U.S. housing market after1999.This paper analyzes the extent to which that was true. We define a bubble as: (1) a regime shift that is characterized by a change in the properties of deviations from the fundamentals of house price growth,...
Persistent link: https://www.econbiz.de/10009476926
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Essays on speculation.
Slawski, Adam Wladyslaw - 2009
University of Minnesota Ph.D. dissertation. August 2009. Major: Economics. Advisor: Narayana Kocherlakota. 1 computer file (PDF); iv, 65 pages, appendices A-B.
Persistent link: https://www.econbiz.de/10009462812
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Learning from experience in the stock market
Nakov, Anton; Nuño Barrau, Galo - 2011
Incluye bibliografía ; Este documento estudia la dinámica de los precios de las acciones en un modelo tipo «árbol de Lucas» en el que los inversores tienen vidas finitas y aprenden de su propia experiencia. Los individuos actualizan sus expectativas mediante aprendizaje bayesiano basado en...
Persistent link: https://www.econbiz.de/10012530357
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Distributing the Benefits from the Commons
Silvestre, Joaquim - 1993
"The common-property literature has often focused on the question of efficiency. Here we consider distributional issues instead. How should the benefits of the commons (say, a fishery) be distributed? We approach the question from the viewpoint of ownership rather than income redistribution. "A...
Persistent link: https://www.econbiz.de/10009468330
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Foundations for Cooperation in Social Dilemmas
Ahn, Toh-Kyeong - 2001
"Institutional approaches to social dilemmas have so far focused on how to create incentive structures that channel individuals' behavior into socially desirable outcomes assuming that everyone is selfish. However, the presumption of universal selfishness is not only empirically invalid but may...
Persistent link: https://www.econbiz.de/10009468335
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Appropriation Externalities in the Commons: Theory and Experimental Evidence
Herr, Andrew - 1996
of the commons.' This dissertation combines the tools of game theory and experimental methods to gain a broader …
Persistent link: https://www.econbiz.de/10009468337
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Essays on Individual Behavior in Social Dilemma Environments: An Experimental Analysis
Dudley, Dean - 1993
"In this study, individual level behavior is investigated in the context of computer assisted voluntary contribution mechanism public good (VCM) provision experiments and common pool resource (CPR) appropriation experiments. Previous studies of these environments have concentrated on aggregate...
Persistent link: https://www.econbiz.de/10009468340
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Salience and Its Implications for Common-Pool Resource Management in Scotland: A Tragedy of a Different Kind?
Brown, Katrina Myrvang; Slee, Bill - 2002
"In past contributions to CPR theory, the issue of salience/dependence on a resource has been flagged up as a one of a … high. However, cases do exist of CPRs in which this assumption does not hold, and consequently, related theory proves to be … into question the possibility and utility of constructing a coherent CPR meta-theory." …
Persistent link: https://www.econbiz.de/10009468341