Implications of Learning Behaviour for Price Processes

Verfügbarkeit:
Auf Lager.
Artikelnummer:
1179513
  • Produktbeschreibung

    Implications of Learning Behaviour for Price Processes

    This book analyses the impact of learning behaviour in different economic environments. All cases are motivated by real world puzzles which cannot be explained by models with rational expectations: The size and persistence of exchange rate volatility, the possibility of financial market crashes without news, and progress in disinflation in transition countries despite limited credibility and conflicting monetary and fiscal policies. In particular, the author shows that adaptive learning behaviour adds additional dynamics to economic models, which are not present under the assumption of full rationality. Certain types of hysteresis in financial markets can be explained by relaxing the rational expectations assumption; credibility and transparency of economic policies matter even more when agents learn about their economic environment; and markets with incomplete and asymmetric information are inherently unstable and prone for market crashes.
  • Zusatzinformation

    Autor
    Bindung
    Taschenbuch
    Verlag
    Scholar's Press
    ISBN / EAN
    9783639710847
  • Sie könnten auch an folgenden Produkten interessiert sein

  • 0 Kundenmeinungen

    Vielen Dank für das Interesse an unsere Kundenmeinungen.
    Wir können die Authentizität der Bewertungen nicht prüfen und sicherstellen.

    Schreiben Sie selbst eine Rezension

    Ihre Meinung interessiert uns – und hilft anderen Kunden bei der Auswahl.