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The heterogeneous expectations hypothesis: some evidence from the lab

Listed author(s):
  • Cars Hommes

    ()

This paper surveys learning to forecast experiments (LtFEs) with human subjects to test theories of expectations and learning. Subjects must repeatedly forecast a market price, whose realization is an aggregation of individual expectations. Emphasis is given to how individual forecasting rules interact at the micro level and which structure they co-create at the aggregate, macro level. In particular, we focus on the question wether the evidence from laboratory experiments is consistent with heterogeneous expectations.

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File URL: https://hal.archives-ouvertes.fr/hal-00753041/document
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Date of creation: 17 Nov 2010
Publication status: Published in Journal of Economic Dynamics & Control, Elsevier, 2010, 35 (1), pp.1. <10.1016/j.jedc.2010.10.003>
Handle: RePEc:hal:journl:hal-00753041
DOI: 10.1016/j.jedc.2010.10.003
Note: View the original document on HAL open archive server: https://hal.archives-ouvertes.fr/hal-00753041
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