Title of article
Bounded memory, overparameterized forecast rules, and instability
Author/Authors
Christophre Georges، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2008
Pages
7
From page
129
To page
135
Abstract
We consider an environment in which traders with finite memory update their forecast rules at random intervals by OLS. In this context, overparameterization of the forecast rules can destabilize the learning dynamics. This instability tends to be attenuated by greater memory and less frequent updating.
Keywords
Learning , Expectations , Agent-based modeling
Journal title
Economics Letters
Serial Year
2008
Journal title
Economics Letters
Record number
436378
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