Cars Hommes (Universiteit van Amsterdam)

Behavioral Rationality and Heterogeneous Expectations in Complex Economic Systems

• Gebundenes Buch

Produktbeschreibung

Recognising that the economy is a complex system with boundedly rational interacting agents, the book presents a theory of behavioural rationality and heterogeneous expectations in economic systems, helping students, researchers and policy makers to build more realistic behavioural models in order to better manage crises in a complex global economy.

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Produktdetails

• Verlag: Cambridge University Press
• Seitenzahl: 272
• Erscheinungstermin: 6. Februar 2018
• Englisch
• Abmessung: 250mm x 175mm x 19mm
• Gewicht: 686g
• ISBN-13: 9781107019294
• ISBN-10: 110701929X
• Artikelnr.: 36684519

Autorenporträt

Cars Hommes is Professor of Economic Dynamics at the University of Amsterdam (UvA). After his PhD in Mathematical Economics at the University of Groningen, he founded the Center of Nonlinear Dynamics in Economics and Finance (CeNDEF), an interdisciplinary research group at UvA, pursuing theoretical, experimental and empirical research on complex systems, bounded rationality and behavioral agent-based models in economics and finance.

Inhaltsangabe

1. Introduction
2. Bifurcations and chaos in 1-D systems
3. Bifurcations and strange attractors in 2-D systems
4. The nonlinear cobweb model
5. The cobweb model with heterogeneous expectations
6. An asset pricing model with heterogeneous beliefs
7. Empirical validation
8. Laboratory experiments.