๐”– Bobbio Scriptorium
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Coevolution and stable adjustments in the cobweb model

โœ Scribed by Reiner Franke

Book ID
105859565
Publisher
Springer-Verlag
Year
1998
Tongue
English
Weight
268 KB
Volume
8
Category
Article
ISSN
0936-9937

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This paper generalizes the evolutionary cobweb model with heterogeneous beliefs of Brock and Hommes (1997. Econometrica 65, 1059}1095), to the case of non-linear demand and supply. Agents choose between a simple, freely available prediction strategy such as naive expectations and a sophisticated, co