Markets and expectations -- Expected utility maximization -- Effects of heterogeneous expectations -- Forecasting among alternative strategies under uncertainty -- Expectations in time series models -- Costly information and decision making -- Applied welfare economics with boundedly rational...

Markets and expectations -- Expected utility maximization -- Effects of heterogeneous expectations -- Forecasting among alternative strategies under uncertainty -- Expectations in time series models -- Costly information and decision making -- Applied welfare economics with boundedly rational...

Bootstrapping methods have so far been rarely used to evaluate spatial data sets. Based on an extensive Monte Carlo study we find that also for spatial, cross-sectional data, the wild bootstrap test proposed by Davidson and Flachaire (2008) based on restricted residuals clearly outperforms...

I study how a forward-looking decision maker experiments on unknown alternatives of spatially correlated utilities modeled by a Brownian motion so that similar alternatives yield similar utilities. For example, a firm experiments on its size that yields unknown, spatially correlated...