UID:
almahu_9949285306402882
Format:
X, 176 p. 4 illus.
,
online resource.
Edition:
1st ed. 2006.
ISBN:
9783540380504
Series Statement:
Lecture Notes in Economics and Mathematical Systems, 555
Content:
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.
Note:
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.
In:
Springer Nature eBook
Additional Edition:
Printed edition: ISBN 9783540806844
Additional Edition:
Printed edition: ISBN 9783540243229
Language:
English
DOI:
10.1007/978-3-540-38050-4
URL:
https://doi.org/10.1007/978-3-540-38050-4
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