作者:
C Hommes
关键词:
Heterogeneous expectations ； Bounded rationality ； Learning ； Heuristics switching
摘要:
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 forecasts. Emphasis is given to how individual forecasting rules interact at the micro level and which structure they co-create at the aggregate, macro level. In particular, we focus on the question wether the evidence from laboratory experiments is consistent with heterogeneous expectations.
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