This chapter surveys work on dynamic heterogeneous agent models (HAMs) in economics
and finance. Emphasis is given to simple models that, at least to some extent, are tractable …

This paper surveys learning-to-forecast experiments (LtFEs) with human subjects to test
theories of expectations and learning. Subjects must repeatedly forecast a market price …

Recognising that the economy is a complex system with boundedly rational interacting
agents, the book presents a theory of behavioral rationality and heterogeneous expectations …

This chapter surveys the state-of-art of heterogeneous agent models (HAMs) in finance
using a jointly theoretical and empirical analysis, combined with numerical analysis from the …

Publisher Summary Although there might be agreement that the standard paradigm does
not fully explain what is causing the evolution of speculative asset prices, there may be less …

This paper provides a detailed description of the Eurace@ Unibi model, which has been
developed as a versatile tool for macroeconomic analysis and policy experiments. The …

In order to characterize asset price and wealth dynamics arising from the interaction of
heterogeneous agents with CRRA utility, a discrete-time stationary model in terms of return …

Publisher Summary This chapter explores some behavioral finance models with
evolutionary selection of heterogeneous trading strategies. When strategy selection is driven …

The use of various moving average (MA) rules remains popular with financial market
practitioners. These rules have recently become the focus of a number empirical studies, but …

This document provides a description of the modeling assumptions and economic features
of the Eurace@ Unibi model. Furthermore, the document shows typical patterns of the output …