Publication
Nov 2008
This paper discusses statistical methodology. The authors propose genetic algorithms as a model for individual expectations to explain aggregate market phenomena. The model explains all stylized facts observed in aggregate price fluctuations and individual forecasting behavior in recent learning to forecast laboratory experiments with human subjects.
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English (PDF, 43 pages, 760 KB) |
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Author | Cars Hommes, Thomas Lux |
Series | Kiel Institute Working Papers |
Issue | 1466 |
Publisher | Kiel Institute for the World Economy |
Copyright | © 2008 Kiel Institute for the World Economy |