Learning in Economic Systems with Expectations Feedback

Name: Learning in Economic Systems with Expectations Feedback
Brand: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
SKU: 9783540243229
Price: 1311 CZK
Availability: InStock

Autor: Joachim Wenzelburger

Jazyk:

Vazba: Brožovaná

Vydavatel: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG

Dostupnost: Skladem u dodavatele v malém množství

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Recently, more and more economists have abandoned the assumption that agents have perfect knowledge...

Informace o knize

Autor

Joachim Wenzelburger

Jazyk

Angličtina

Vazba

Kniha - Brožovaná

Vydáno

2006

Stránek

176

EAN

9783540243229

ISBN

3540243224

Enbook ID

05273776

Vydavatel

Springer-Verlag Berlin and Heidelberg GmbH & Co. KG

Hmotnost

610

Rozměry

155 x 235 x 12

Kompletní popis

Recently, more and more economists have abandoned the assumption that agents have perfect knowledge about the economic environment in which they live. Instead the focus has been directed toward scenarios in which agents' views of the world may be erroneous.§An open issue is how to describe plausible rules, according to which expectations are formed and updated over time. The book introduces the concept of a perfect forecasting rule that generates rational expectations in the classical sense, thus reconciling the traditional view with behaviorist approaches.§It argues that successful learning schemes should aim at estimating the correct market structure from available observations, while taking into account the impact of forecasting on future data.

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Learning in Economic Systems with Expectations Feedback

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