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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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
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