propose genetic algorithms as a model for individual expectations to explain aggregate market phenomena. The model explains … forecast laboratory experiments with human subjects (Hommes et al. 2007), simultaneously and across different treatments …. -- Learning ; heterogeneous expectations ; genetic algorithms ; experimental economics …

, recurring bubbles arise, where the price is 3 times larger than the fundamental value, which were not seen in former experiments. …

Behavioral and experimental literature on financial instability focuses on either subjective price expectations … (Learning-to-Forecast experiments) or individual trading (Learning-to-Optimize experiments). Bao et al. (2018) have shown that …

The way in which individual expectations shape aggregate macroeconomic variables is crucial for the transmission and … effectiveness of monetary policy. We study the individual expectations formation process and the interaction with monetary policy …, within a standard New Keynesian model, by means of laboratory experiments with human subjects. Three aggregate outcomes are …

Behavioral and experimental literature on financial instability focuses on either subjective price expectations … (Learning-to-Forecast experiments) or individual trading (Learning-to-Optimize experiments). Bao et al. (2017) have shown that …

We experimentally investigate how price expectations are formed in a large asset market where subjects' only task is to … forecast the future price of a risky asset. The realized prices depend on these expectations. We observe small (6 participants …

Rational Expectations (RE) models have two crucial dimensions: 1) agents correctly forecast future prices given all … available information, and 2) given expectations, agents solve optimization problems and these solutions in turn determine … expectations rule. Subjects are less likely to make conditionally optimal production decision for given forecasts in treatment 3 …