‘bubbles’ the spatial pattern of house prices, which can mainly be attributed to accessibility differences, usually remains …

To explore why bubbles frequently emerge in the experimental asset market model of Smith, Suchanek and Williams (1988 … they expect the fundamental value to stay constant.Running the experiment with a different context (stocks of a depletable …

We introduce human traders into an agent based financial market simulation prone to bubbles and crashes. We find that … impact on bubbles and crashes in larger (30 trader) markets and when they are more experienced. Humans' buying and selling …

policymakers, learning from the experience of the 1970s, eschewed activist policies in favor of policies that concentrated on the …

: rational expectations and learning. We show that in this environment the ability to stabilize the real side of the economy is … private learning and misperceptions of natural rates call for greater policy inertia, a more aggressive response to inflation … economy. We show that such policies are quite robust to potential misspecification of private sector learning and the …

's q ratio displays regular cycles of bubbles and crashes reflecting an agency problem between investors and producers. The …

We develop a model of rational bubbles based on the assumptions of unknown market liquidity and limited liability of … condition for whether rational bubbles are possible. Based on this analysis, we discuss several widely-discussed policy measures … with respect to their effectiveness in preventing bubbles. A reduction of manager bonuses or a Tobin tax can create or …

active learning possibilities has effects on the optimal interest rate rule followed by the central bank.For a wide range of …

all stylized facts observed in aggregate price fluctuations and individual forecasting behaviour in recent learning to …