Description: Learning in Economic Systems With Expectations Feedback, Paperback by Wenzelburger, Jan, ISBN 3540243224, ISBN-13 9783540243229, Like New Used, Free shipping in the US
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.
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Book Title: Learning in Economic Systems With Expectations Feedback
Number of Pages: X, 176 Pages
Publication Name: Learning in Economic Systems with Expectations Feedback
Language: English
Publisher: Springer Berlin / Heidelberg
Subject: Economics / Macroeconomics, Econometrics, Forecasting, Money & Monetary Policy
Publication Year: 2006
Type: Textbook
Item Weight: 21.5 Oz
Subject Area: Business & Economics
Item Length: 9.3 in
Author: Jan Wenzelburger
Item Width: 6.1 in
Series: Lecture Notes in Economics and Mathematical Systems Ser.
Format: Trade Paperback
