Search | Science Publications

Research ArticleOpen accessIn the author namesLearning Dynamics in the Cobweb Model with Heterogeneous ProducersCarl Chiarella, Xue-Zhong HeIn this study we investigate the nonlinear dynamics of the traditional cobweb model with two types of heterogeneous producers who are risk averse and seek to learn the distribution of asset prices, in terms of the sample mean and variance of historical prices, using the Arithmetic Learning Processes (ALP) over different window lengths. We show that heterogeneity has a double … …American Journal of Applied Sciences, Vol. 2, Issue 13 · 15 Dec 2005 · 7,911 accessesView PDF Cite

1 article for “Carl Chiarella”