Showing 1 - 6 of 6
Persistent link: https://www.econbiz.de/10001190687
Persistent link: https://www.econbiz.de/10001584397
We conduct experiments with human subjects in a model with a positive production externality in which productivity is a non-decreasing function of the average level of employment of other firms. The model has three steady states: the low and high steady states are expectationally stable...
Persistent link: https://www.econbiz.de/10009746578
Persistent link: https://www.econbiz.de/10001584392
Persistent link: https://www.econbiz.de/10012501327
We report on experimental evidence rationalizing the use of heterogeneous agent models. We provide compelling evidence that subjects in laboratory experiments often behave in ways that depart from the rational choice ideal. Further, these subjects' heuristic approaches often differ from one...
Persistent link: https://www.econbiz.de/10014024349