{"product_id":"9783540573111","title":"Lecture Notes in Economics and Mathematical Systems: An Experimental Study","description":"\u003ch1\u003eLecture Notes in Economics and Mathematical Systems: An Experimental Study\u003c\/h1\u003e \u003ch2\u003eBrennscheidt, Gunnar\u003c\/h2\u003e \u003cp\u003eThis book describes a series of laboratory experiments (with\na total of 167 independent subjects) on forecasting\nbehavior. In all experiments, the time series to be\nforecasted was generated by an abstract econometric            model\ninvolving two or three artificial exogenous variables. This\ndesignprovides an optimal background for rational\nexpectations and least-squares  learning. As expected, these\nhypotheses do not explain observed forecasting behavior\nsatisfactorily. Some phenomena related to this lack                of\nrationality are studied: Concentration on changes rather\nthan levels,underestimation of changes and overvaluation of\nvolatile exogenous          variables. Some learning behavior is\nobserved. Finally, some aspects of     individual forecasts such\nas prominence of \"round\" number, dispersion, etc.,are\nstudied.\u003c\/p\u003e \u003ch3\u003eDetails\u003c\/h3\u003e \u003cp\u003ePublished by: Springer\u003c\/p\u003e \u003cp\u003ePublication Date: 1993-11-29\u003c\/p\u003e \u003cp\u003eFormat: Paperback\u003c\/p\u003e \u003cp\u003eISBN-13: 9783540573111\u003c\/p\u003e \u003cp\u003eDOI: 10.1007\/978-3-642-95718-5\u003c\/p\u003e \u003cp\u003eDimensions: 235cm x155cm\u003c\/p\u003e \u003cp\u003ePages: 227\u003c\/p\u003e ","brand":"Springer Berlin Heidelberg","offers":[{"title":"Default Title","offer_id":44398516469900,"sku":"9783540573111","price":49.49,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0710\/9545\/1788\/files\/9783540573111.jpg?v=1774028638","url":"https:\/\/lateknightbooks.com\/products\/9783540573111","provider":"Late Knight Books and Services, LLC","version":"1.0","type":"link"}