Multi-agent, financial forecasting, neural networks, dynamical systems, market modeling, cognitive systems, econometrics. - One of the challenges of financial research is to develop models that are capable of explaining and forecasting market price movements and returns.Agent based models focus...

Smith et al. (1988) reported large bubbles and crashes in experimental asset markets, a result that has been replicated many times. Here we test whether the occurrence of bubbles depends on the experimental subjects' cognitive sophistication. In a two-part experiment, we first run a battery of...