Local convergence properties of a cobweb model with rationally heterogeneous expectations

DOI10.1016/S0165-1889(01)00027-6zbMath1009.91012MaRDI QIDQ1614791

William A. Branch

Publication date: 9 September 2002

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

zbMATH Keywords

stabilitysteady stateprice dynamicscobweb model

Mathematics Subject Classification ID

Microeconomic theory (price theory and economic markets) (91B24)

Related Items (10)

Analysis of 3D cobweb economic differential dynamic system based on supply-demand and price relationships ⋮ Animal spirits and credit cycles ⋮ On learning equilibria ⋮ Smart or stupid depends on who is your counterpart: a cobweb model with heterogeneous expectations ⋮ Adaptive expectations and cobweb phenomena: does heterogeneity matter? ⋮ Intrinsic heterogeneity in expectation formation ⋮ A New Keynesian model with heterogeneous expectations ⋮ Dynamic predictor selection in a New Keynesian model with heterogeneous expectations ⋮ STABILITY AND CYCLES IN A COBWEB MODEL WITH HETEROGENEOUS EXPECTATIONS ⋮ Stability analysis of a cobweb model with market interactions

Cites Work

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• The stability and control of discrete processes
• Genetic algorithm learning and the cobweb model
• Evolution of smart\(_ n\) players
• Rationalizability, strong rationality, and expectational stability
• Market Anticipations, Rational Expectations, and Bayesian Analysis
• Rational Expectations Equilibria, Learning, and Model Specification
• A Rational Route to Randomness

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