Adaptive expectations and cobweb phenomena: does heterogeneity matter?

DOI10.1016/J.JEDC.2011.03.008MaRDI QIDQ550842zbMATH OpenOpenAlexFDO

Authors Domenico Colucci, Vincenzo Valori

Publication date 13 July 2011

Published in Journal of Economic Dynamics and Control (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.jedc.2011.03.008

zbMATH Keywords

bounded rationalityevolutionary dynamicsheterogeneous expectationsmarket integrationstability of steady states

Mathematics Subject Classification ID

Economic dynamics (91B55) Heterogeneous agent models (91B69)

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Cites work

• A Rational Route to Randomness
• Adaptive expectations coordination in an economy with heterogeneous agents
• Asset price dynamics when behavioural heterogeneity varies
• Consensus Consumer and Intertemporal Asset Pricing with Heterogeneous Beliefs
• Coordination on saddle-path solutions: the eductive viewpoint -- linear multivariate models
• Heterogeneous beliefs and the non-linear cobweb model
• scientific article; zbMATH DE number 193053 (Why is no real title available?)
• Local convergence properties of a cobweb model with rationally heterogeneous expectations
• Macroeconomic Expectations of Households and Professional Forecasters
• On information and market dynamics: The case of the U. S. beef market
• Performance of monetary policy with internal central bank forecasting
• STABILITY AND CYCLES IN A COBWEB MODEL WITH HETEROGENEOUS EXPECTATIONS
• Stability, chaos and multiple attractors: a single agent makes a difference
• Two destabilizing strategies may be jointly stabilizing

Cited in

(6)

• Two destabilizing strategies may be jointly stabilizing
• Local convergence properties of a cobweb model with rationally heterogeneous expectations
• Stabilizing inflation in a simple monetary policy model with heterogeneous agents
• A reappraisal of fundamentalists in a cobweb model with heterogeneous agents
• A cobweb model with local externalities
• Stability, chaos and multiple attractors: a single agent makes a difference

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