Overview
Part of the book series: Lecture Notes in Economics and Mathematical Systems (LNE, volume 555)
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Table of contents (7 chapters)
Keywords
About this book
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.
Authors and Affiliations
Bibliographic Information
Book Title: Learning in Economic Systems with Expectations Feedback
Authors: Jan Wenzelburger
Series Title: Lecture Notes in Economics and Mathematical Systems
DOI: https://doi.org/10.1007/978-3-540-38050-4
Publisher: Springer Berlin, Heidelberg
eBook Packages: Business and Economics, Economics and Finance (R0)
Copyright Information: Springer-Verlag Berlin Heidelberg 2006
Softcover ISBN: 978-3-540-24322-9Published: 14 August 2006
eBook ISBN: 978-3-540-38050-4Published: 22 September 2006
Series ISSN: 0075-8442
Series E-ISSN: 2196-9957
Edition Number: 1
Number of Pages: X, 176
Number of Illustrations: 4 b/w illustrations
Topics: Economic Theory/Quantitative Economics/Mathematical Methods, Econometrics, Macroeconomics/Monetary Economics//Financial Economics