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Capital account policies, IMF programs and growth in developing regions

Bicaba, Zorobabel; Brixiova, Zuzana; Ncube, Mthuli - 2015

This paper develops an adaptive learning model under uncertainty that examines evolution of capital account polices over time and across developing regions. In the framework, countries' past experiences and IMF programs influence policymakers' beliefs about the impact of capital account...

Persistent link: https://www.econbiz.de/10010469677

Chapter 7 Learning dynamics

Evans, George W.; Honkapohja, Seppo - In: Handbook of macroeconomics : volume 1, part A, (pp. 449-542). 1999

approximation based on an associated differential equation. Global stability, local stability and instability results for SRAs are … presented. For a wide range of solutions to economic models the stability conditions for REE under statistical learning rules … are given by the expectational stability principle, which is treated as a unifying principle for the results presented …

Persistent link: https://www.econbiz.de/10014024243

Probabilistic Bounded Relative Error Property for Learning Rare Event Simulation Techniques

Ridder, Ad; Tuffin, Bruno - 2012

In rare event simulation, we look for estimators such that the relative accuracy of the output is 'controlled' when the rarity is getting more and more critical. Different robustness properties have been defined in the literature, that an estimator is expected to satisfy. Though, those...

Persistent link: https://www.econbiz.de/10014040085

Deep Hedging : Learning Risk-Neutral Implied Volatility Dynamics

Buehler, Hans; Phillip, Murray; Pakkanen, Mikko; Wood, Ben - 2021

We present a numerically efficient approach for machine-learning a risk-neutral measure for paths of simulated spot and option prices up to a finite horizon under convex transaction costs and convex trading constraints. This approach can then be used to implement a stochastic implied volatility...

Persistent link: https://www.econbiz.de/10013236469

Chapter 24 Agent-based Computational Finance

LeBaron, Blake - In: Handbook of computational economics : volume 2, …, (pp. 1187-1233). 2006

This chapter surveys research on agent-based models used in finance. It will concentrate on models where the use of computational tools is critical for the process of crafting models which give insights into the importance and dynamics of investor heterogeneity in many financial settings.

Persistent link: https://www.econbiz.de/10014024381

Chapter 21 ACE Models of Endogenous Interactions

Vriend, Nicolaas J. - In: Handbook of computational economics : volume 2, …, (pp. 1047-1079). 2006

Various approaches used in Agent-based Computational Economics (ACE) to model endogenously determined interactions between agents are discussed. This concerns models in which agents not only (learn how to) play some (market or other) game, but also (learn to) decide with whom to do that (or not).

Persistent link: https://www.econbiz.de/10014024384

Competitive Exception Learning Using Fuzzy Frequency Distributions

van den Bergh, W. M.; van den Berg, J. - 2010

A competitive exception learning algorithm for finding a non-linear mapping is proposed which puts the emphasis on the discovery of the important exceptions rather than the main rules. To do so,we first cluster the output space using a competitive fuzzy clustering algorithm and derive a fuzzy...

Persistent link: https://www.econbiz.de/10014031541

Dynamic voluntary contribution to a public good : learning to be a free rider

Clemens, Christiane; Riechmann, Thomas - 2001

This paper explores the question whether boundedly rational agents learn to behave optimally when asked to voluntarily contribute to a public good. The decision process of individuals is described by an Evolutionary Algorithm. We analyze the learning process of purely and impurely altruistic...

Persistent link: https://www.econbiz.de/10011525818

Lernen in ökonomischen Systemen : qualitative Aspekte und Überblick

Clemens, Christiane; Haslinger, Franz - 2001

Dieser Beitrag gibt einen Überblick über Ansatzpunkte und Möglichkeiten zur Integration von Lernprozessen in volkswirtschaftliche Fragestellungen. Es werden alternative Methoden vorgestellt, individuelle aber auch gesellschaftliche Lernenvorgänge in ökonomischen Modellen zu erfassen.

Persistent link: https://www.econbiz.de/10011526281

(A)symmetric Equilibria And Adaptive Learning Dynamics in Small-Committee Voting

Chernomaz, Kirill; Goertz, Johanna - 2021

We study equilibrium selection in a common-interest voting model with three alternatives. In the model, symmetric Bayesian Nash Equilibria (BNE) of varying efficiency are known to exist. Employing evolutionary adaptive learning simulations, we find interesting new equilibria. In simulations, we...

Persistent link: https://www.econbiz.de/10013322584