Bounded Rationality in Macroeconomics: The Arne Ryde Memorial LecturesClarendon Press, 1993 - 184 Seiten How do people behave in new situations in which previous experience is not useful? The recent changes in Eastern Europe, for example, are unprecedented and there is not an available model on which to base the mechanisms that will govern the economics in this region. The concept of "bounded (orlimited) rationality" is being developed to analyze behavior in such situations. In this book Thomas Sargent describes and interprets the recent work in the area, especially in statistics, econometrics, networks and artificial intelligence. He focuses on examples designed to illustrate the issuesinvolved and the kinds of questions that are being asked and answered in this research. He points to further potential positive developments of the theory as well as some of its limitations. |
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Seite 82
... adaptive agents into five different environ- ments that have been analyzed in the rational expectations lit- erature , thereby illustrating some of the different structures and possibilities in economic systems composed of such agents ...
... adaptive agents into five different environ- ments that have been analyzed in the rational expectations lit- erature , thereby illustrating some of the different structures and possibilities in economic systems composed of such agents ...
Seite 155
... adaptive agents teach smart economists In using systems of adaptive agents to generate a ' guess , ' we are counting on the tendency of these systems of adaptive agents , as plodding as they are , eventually to find their ways to ...
... adaptive agents teach smart economists In using systems of adaptive agents to generate a ' guess , ' we are counting on the tendency of these systems of adaptive agents , as plodding as they are , eventually to find their ways to ...
Seite 169
... adaptive agents seem much more stable and hospitable than the real - life situations for which we would want transition dynamics . On the purely technical side , there is the shortage of results on rates of convergence , and the need ...
... adaptive agents seem much more stable and hospitable than the real - life situations for which we would want transition dynamics . On the purely technical side , there is the shortage of results on rates of convergence , and the need ...
Inhalt
INTRODUCTION | 1 |
DATA STRUCTURES | 35 |
Estimated parameters | 45 |
Urheberrecht | |
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Bounded Rationality in Macroeconomics: The Arne Ryde Memorial Lectures Thomas J. Sargent Keine Leseprobe verfügbar - 1993 |
Häufige Begriffe und Wortgruppen
adaptive algorithms adaptive expectations applied economists Arifovic behavior beliefs bounded rationality boundedly rational agents Bray's model chapter Chung combinatorial optimization compute converges to rational decision rules deterministic system distribution dynamics 14 econometric econometricians Economic Dynamics eigenvalue environment equation example exchange rate fast adaptive agents Federal Reserve Figure fixed point forecast function G₁ genetic algorithm global implementation induce dynamics inflation rate iterate Journal of Economic Journal of Political Kiyotaki Kuan law of motion least squares learning linear macroeconomics Marcet and Sargent Marimon and Sunder matrix mean field dynamics Mean field theory methods for estimating Mimeo modulus Neural Networks Newton's method nonlinear parameters perceptron Peterson and Söderberg Phillips curve population price level rates of convergence rational expectations equilibrium rational expectations models recursive saving rates serial Sims Simulated anneal Söderberg describe solving stability stationary equilibrium stochastic approximation studied Sunspots theory time-invariant tions transient dynamics vector autoregression
Verweise auf dieses Buch
Bounded Rationality: The Adaptive Toolbox Gerd Gigerenzer,Reinhard Selten Eingeschränkte Leseprobe - 2002 |