Learning in Economic Systems with Expectations Feedback

Buch | Softcover
X, 176 Seiten
2006 | 2006
Springer Berlin (Verlag)
978-3-540-24322-9 (ISBN)
53,49 inkl. MwSt

Recently economists have more and more focussed on scenarios in which agents' views of the world may be erroneous.

These notes introduce the concept of perfect forecasting rules which provide best least-squares predictions along the evolution of an economic system.

The framework for nonparametric adaptive learning schemes is developed and it is argued that plausible learning schemes should aim at estimating a perfect forecasting rule taking into account the correct feedback structure of an economy.

A link is provided between the traditional rational-expectations view and recent behavioristic approaches.

Economic Systems With Expectations Feedback.- Adaptive Learning in Linear Models.- Economic Models Subject to Stationary Noise.- Nonparametric Adaptive Learning.- Stochastic Exchange Economies.- Heterogeneous Beliefs in a Financial Market.

Erscheint lt. Verlag 14.8.2006
Reihe/Serie Lecture Notes in Economics and Mathematical Systems
Zusatzinfo X, 176 p. 4 illus.
Verlagsort Berlin
Sprache englisch
Maße 155 x 235 mm
Gewicht 290 g
Themenwelt Wirtschaft Volkswirtschaftslehre Finanzwissenschaft
Wirtschaft Volkswirtschaftslehre Makroökonomie
Wirtschaft Volkswirtschaftslehre Ökonometrie
Schlagworte Adaptive Learning • Agent-based Models • Agents • Financial Markets • Forecasting • Hardcover, Softcover / Wirtschaft/Volkswirtschaft • HC/Wirtschaft/Volkswirtschaft • Heterogenous Expectations • Lernen • Macroeconomics • nonparametric estimation • Wirtschaftssysteme
ISBN-10 3-540-24322-4 / 3540243224
ISBN-13 978-3-540-24322-9 / 9783540243229
Zustand Neuware
Haben Sie eine Frage zum Produkt?
Mehr entdecken
aus dem Bereich
eine Einführung in die Staatsfinanzen

von Horst Zimmermann; Klaus-Dirk Henke; Michael Broer

Buch | Hardcover (2024)
Vahlen (Verlag)
39,80
and why it doesn't work the way we think it does

von Gavin Jackson

Buch | Softcover (2023)
Pan Books (Verlag)
13,70