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This survey discusses behavioral and experimental macroeconomics emphasizing a complex systems perspective. The economy consists of boundedly rational heterogeneous agents who do not fully understand their complex environment and use simple decision heuristics. Central to our survey is the...
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Thompson Sampling as a theory of human behavior across very different situations of dynamic strategic interaction in economics … Bayesian learning and quantal response equilibrium (QRE) - above all in complex environments with many possible actions. …
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