Learning in Economic Systems with Expectations Feedback
Publication year: 2006
: 978-3-540-38050-4
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.
: Business and Economics, Adaptive Learning, Agent-based Models, Financial Markets, Forecasting, Heterogenous Expectations, Macroeconomics, Nonparametric Estimation, agents
