We develop a behavioral commodity market model with consumers, producers andheterogeneous speculators to characterize-tile-nature of commodity price fluctuations and toexplore the effectiveness of price stabilization schemes. Within our model, we analyze hownonlinear interactions between market...

The selected papers collected in this special issue were presented at the “Interacting agents and nonlinear dynamics in macroeconomics” workshop organized by Marji Lines , Sebastiano Manzan, and Frank Westerhoff which was held at the University of Udine, Udine (Italy), on June 9-11, 2010....

The selected papers collected in this special issue were presented at the “Interacting agents and nonlinear dynamics in macroeconomics” workshop organized by Marji Lines , Sebastiano Manzan, and Frank Westerhoff which was held at the University of Udine, Udine (Italy), on June 9-11, 2010....

In this paper, we integrate heterogeneous inflation expectations into a simple monetary model. Guided by empirical evidence, we assume that boundedly rational agents, selecting between extrapolative and regressive forecasting rules to predict the future inflation rate, prefer rules that have...