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of an iid random variable. We set up a laboratory experiment where the participants act as forecasters predicting the … their central tendencies. As is standard in survey measures, the subjects in our experiment must report their best guess of … the experiment are based on a percentile while almost 60% are based on a numerical value. …
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laboratory experiment in which the participants act as forecasters and are asked to predict the next realisation of iid random …
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Models with heterogeneous interacting agents explain macro phenomena through interactions at the micro level. We propose genetic algorithms as a model for individual expectations to explain aggregate market phenomena. The model explains all stylized facts observed in aggregate price fluctuations...
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