Behavioral rationality and heterogeneous expectations in complex economic systems:
Recognising that the economy is a complex system with boundedly rational interacting agents, the book presents a theory of behavioral rationality and heterogeneous expectations in complex economic systems and confronts the nonlinear dynamic models with empirical stylized facts and laboratory experim...
Saved in:
| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Cambridge
Cambridge University Press
2013
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| Subjects: | |
| Online Access: | BSB01 FHN01 UBG01 Volltext |
| Summary: | Recognising that the economy is a complex system with boundedly rational interacting agents, the book presents a theory of behavioral rationality and heterogeneous expectations in complex economic systems and confronts the nonlinear dynamic models with empirical stylized facts and laboratory experiments. The complexity modeling paradigm has been strongly advocated since the late 1980s by some economists and by multidisciplinary scientists from various fields, such as physics, computer science and biology. More recently the complexity view has also drawn the attention of policy makers, who are faced with complex phenomena, irregular fluctuations and sudden, unpredictable market transitions. The complexity tools - bifurcations, chaos, multiple equilibria - discussed in this book will help students, researchers and policy makers to build more realistic behavioral models with heterogeneous expectations to describe financial market movements and macro-economic fluctuations, in order to better manage crises in a complex global economy |
| Item Description: | Title from publisher's bibliographic system (viewed on 05 Oct 2015) |
| Physical Description: | 1 online resource (xvii, 253 pages) |
| ISBN: | 9781139094276 |
| DOI: | 10.1017/CBO9781139094276 |
Staff View
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| 245 | 1 | 0 | |a Behavioral rationality and heterogeneous expectations in complex economic systems |c Cars Hommes, University of Amsterdam center of nonlinear dynamics in economics and finance (CeNDEF), Amsterdam school of Economics and Tinbergen Institute |
| 246 | 1 | 3 | |a Behavioral Rationality & Heterogeneous Expectations in Complex Economic Systems |
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| 300 | |a 1 online resource (xvii, 253 pages) | ||
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| 500 | |a Title from publisher's bibliographic system (viewed on 05 Oct 2015) | ||
| 505 | 8 | |a Machine generated contents note: 1. Introduction; 2. Bifurcations and chaos in 1-D systems; 3. Bifurcations and strange attractors in 2-D systems; 4. The nonlinear cobweb model; 5. The cobweb model with heterogeneous expectations; 6. An asset pricing model with heterogeneous beliefs; 7. Empirical validation; 8. Laboratory experiments | |
| 520 | |a Recognising that the economy is a complex system with boundedly rational interacting agents, the book presents a theory of behavioral rationality and heterogeneous expectations in complex economic systems and confronts the nonlinear dynamic models with empirical stylized facts and laboratory experiments. The complexity modeling paradigm has been strongly advocated since the late 1980s by some economists and by multidisciplinary scientists from various fields, such as physics, computer science and biology. More recently the complexity view has also drawn the attention of policy makers, who are faced with complex phenomena, irregular fluctuations and sudden, unpredictable market transitions. The complexity tools - bifurcations, chaos, multiple equilibria - discussed in this book will help students, researchers and policy makers to build more realistic behavioral models with heterogeneous expectations to describe financial market movements and macro-economic fluctuations, in order to better manage crises in a complex global economy | ||
| 650 | 4 | |a Psychologie | |
| 650 | 4 | |a Wirtschaft | |
| 650 | 4 | |a Rational expectations (Economic theory) | |
| 650 | 4 | |a Economics / Psychological aspects | |
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Record in the Search Index
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| author | Hommes, Cars H. 1960- |
| author_GND | (DE-588)170822842 |
| author_facet | Hommes, Cars H. 1960- |
| author_role | aut |
| author_sort | Hommes, Cars H. 1960- |
| author_variant | c h h ch chh |
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| bvnumber | BV043695643 |
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| contents | Machine generated contents note: 1. Introduction; 2. Bifurcations and chaos in 1-D systems; 3. Bifurcations and strange attractors in 2-D systems; 4. The nonlinear cobweb model; 5. The cobweb model with heterogeneous expectations; 6. An asset pricing model with heterogeneous beliefs; 7. Empirical validation; 8. Laboratory experiments |
| ctrlnum | (ZDB-20-CBO)CR9781139094276 (OCoLC)1074480366 (DE-599)BVBBV043695643 |
| dewey-full | 330.01/9 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 330 - Economics |
| dewey-raw | 330.01/9 |
| dewey-search | 330.01/9 |
| dewey-sort | 3330.01 19 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| doi_str_mv | 10.1017/CBO9781139094276 |
| format | Electronic eBook |
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| id | DE-604.BV043695643 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-10T07:32:44Z |
| institution | BVB |
| isbn | 9781139094276 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-029108213 |
| oclc_num | 1074480366 |
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| owner_facet | DE-473 DE-BY-UBG DE-12 DE-92 |
| physical | 1 online resource (xvii, 253 pages) |
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| publishDate | 2013 |
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| spelling | Hommes, Cars H. 1960- Verfasser (DE-588)170822842 aut Behavioral rationality and heterogeneous expectations in complex economic systems Cars Hommes, University of Amsterdam center of nonlinear dynamics in economics and finance (CeNDEF), Amsterdam school of Economics and Tinbergen Institute Behavioral Rationality & Heterogeneous Expectations in Complex Economic Systems Cambridge Cambridge University Press 2013 1 online resource (xvii, 253 pages) txt rdacontent c rdamedia cr rdacarrier Title from publisher's bibliographic system (viewed on 05 Oct 2015) Machine generated contents note: 1. Introduction; 2. Bifurcations and chaos in 1-D systems; 3. Bifurcations and strange attractors in 2-D systems; 4. The nonlinear cobweb model; 5. The cobweb model with heterogeneous expectations; 6. An asset pricing model with heterogeneous beliefs; 7. Empirical validation; 8. Laboratory experiments Recognising that the economy is a complex system with boundedly rational interacting agents, the book presents a theory of behavioral rationality and heterogeneous expectations in complex economic systems and confronts the nonlinear dynamic models with empirical stylized facts and laboratory experiments. The complexity modeling paradigm has been strongly advocated since the late 1980s by some economists and by multidisciplinary scientists from various fields, such as physics, computer science and biology. More recently the complexity view has also drawn the attention of policy makers, who are faced with complex phenomena, irregular fluctuations and sudden, unpredictable market transitions. The complexity tools - bifurcations, chaos, multiple equilibria - discussed in this book will help students, researchers and policy makers to build more realistic behavioral models with heterogeneous expectations to describe financial market movements and macro-economic fluctuations, in order to better manage crises in a complex global economy Psychologie Wirtschaft Rational expectations (Economic theory) Economics / Psychological aspects Erscheint auch als Druckausgabe 978-1-107-01929-4 Erscheint auch als Druckausgabe 978-1-107-56497-8 https://doi.org/10.1017/CBO9781139094276 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Hommes, Cars H. 1960- Behavioral rationality and heterogeneous expectations in complex economic systems Machine generated contents note: 1. Introduction; 2. Bifurcations and chaos in 1-D systems; 3. Bifurcations and strange attractors in 2-D systems; 4. The nonlinear cobweb model; 5. The cobweb model with heterogeneous expectations; 6. An asset pricing model with heterogeneous beliefs; 7. Empirical validation; 8. Laboratory experiments Psychologie Wirtschaft Rational expectations (Economic theory) Economics / Psychological aspects |
| title | Behavioral rationality and heterogeneous expectations in complex economic systems |
| title_alt | Behavioral Rationality & Heterogeneous Expectations in Complex Economic Systems |
| title_auth | Behavioral rationality and heterogeneous expectations in complex economic systems |
| title_exact_search | Behavioral rationality and heterogeneous expectations in complex economic systems |
| title_full | Behavioral rationality and heterogeneous expectations in complex economic systems Cars Hommes, University of Amsterdam center of nonlinear dynamics in economics and finance (CeNDEF), Amsterdam school of Economics and Tinbergen Institute |
| title_fullStr | Behavioral rationality and heterogeneous expectations in complex economic systems Cars Hommes, University of Amsterdam center of nonlinear dynamics in economics and finance (CeNDEF), Amsterdam school of Economics and Tinbergen Institute |
| title_full_unstemmed | Behavioral rationality and heterogeneous expectations in complex economic systems Cars Hommes, University of Amsterdam center of nonlinear dynamics in economics and finance (CeNDEF), Amsterdam school of Economics and Tinbergen Institute |
| title_short | Behavioral rationality and heterogeneous expectations in complex economic systems |
| title_sort | behavioral rationality and heterogeneous expectations in complex economic systems |
| topic | Psychologie Wirtschaft Rational expectations (Economic theory) Economics / Psychological aspects |
| topic_facet | Psychologie Wirtschaft Rational expectations (Economic theory) Economics / Psychological aspects |
| url | https://doi.org/10.1017/CBO9781139094276 |
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