Learning in Economic Systems with Expectations Feedback: 555 - Brossura

Wenzelburger, Jan

Brossura

ISBN 10: 3540243224 ISBN 13: 9783540243229

Casa editrice: Springer Berlin Heidelberg, 2008

Riassunto

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.

Su questo libro

Contenuti

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.

Dettagli dell'edizione

• Editore: Springer Berlin Heidelberg
• Data di pubblicazione: 2008
• Lingua: Inglese
• ISBN 10: 3540243224
• ISBN 13: 9783540243229
• Rilegatura: Copertina flessibile
• Numero di pagine: 192
• Contatto del produttore: Springer-Verlag GmbH; customerservice@springernature.com; ; Tiergartenstraße 17; Heidelberg; Baden-Württemberg; 69121; Germania