Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5099120 | Journal of Economic Dynamics and Control | 2011 | 24 Pages |
Abstract
This paper surveys learning-to-forecast experiments (LtFEs) with human subjects to test theories of expectations and learning. Subjects must repeatedly forecast a market price, whose realization is an aggregation of individual expectations. Emphasis is given to how individual forecasting rules interact at the micro-level and which structure they cocreate at the aggregate, macro-level. In particular, we focus on the question wether the evidence from laboratory experiments is consistent with heterogeneous expectations.
Related Topics
Physical Sciences and Engineering
Mathematics
Control and Optimization
Authors
Cars Hommes,