Pattern recognition and procedurally rational expectations

Article Abstract:

A model of pattern recognition for forecasting probabilities of events in markets was devised to assess whether convergence results in rational expectations. Thirty participants, including economists, graduate students, and finance professionals, were asked to decide between getting an immediate cash reward or a performance based reward. Results showed that the model was able to more efficiently predict expectations of participants than the proposals of rational expectations.

Models, Speculation, Consumer behavior

---

Can agents learn their way out of chaos?

Article Abstract:

The learning behavior of economic agents is examined in detail using an OLG model. Problems relating to bounded rationality are analyzed with the help of this model.

Analysis, Economic research, Agency theory

---

Evolutionary stability and media of exchange

Article Abstract:

Money is analyzed as an exchange medium using an evolutionary framework. There is no need to assume rationality for money to be explained as an exchange medium.

Exchange, Money

Similar abstracts:

• Abstracts: Monetary policy, indeterminacy and learning. The role of expectations in economic fluctuations and the efficacy of monetary policy
• Abstracts: Extraterritorial application of U.S. securities laws. Qatar establishes Doha Stock Exchange. Securities regulation in the U.A.E.: analysis of recent developments
• Abstracts: Fuzzy inductive reasoning, expectation formation and the behavior of security prices. Trigger-target rules and the dynamics of aggregate money holdings
• Abstracts: What's special about the specialist? Price stabilization as a bonding mechanism in new equity issues. The option to withdraw IPOs during the premarket: empirical analysis
• Abstracts: Returns to contrarian investment strategies: tests of naive expectations hypotheses. Short-sellers, fundamental analysis, and stock returns

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.