Cobweb dynamics under bounded rationality

MaRDI QIDQ2725651zbMATH OpenFDO

Authors Cars Hommes

Publication date 12 July 2001

zbMATH Keywords

heterogeneitynonlinear dynamicsadaptive learningexpectations

Mathematics Subject Classification ID

General equilibrium theory (91B50) Economic growth models (91B62)

Recommendations

• LEARNING IN COBWEB EXPERIMENTS
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Cited in

(12)

• When panic makes you blind: a chaotic route to systemic risk
• A cobweb model with local externalities
• Local convergence properties of a cobweb model with rationally heterogeneous expectations
• Adaptively adjusted beliefs about prices in an evolutive Muthian cobweb model
• Tests for bounded rationality with a linear dynamic model distorted by heterogeneous expectations
• Instability in the cobweb model under the BNN dynamic
• Carl's nonlinear cobweb
• Chaos in the cobweb model with a new learning dynamic
• Learning in a double-phase cobweb model
• scientific article; zbMATH DE number 1497338 (Why is no real title available?)
• Bounded rationality and search over small-world models
• STABILITY AND CYCLES IN A COBWEB MODEL WITH HETEROGENEOUS EXPECTATIONS

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