nep-evo New Economics Papers
on Evolutionary Economics
Issue of 2006‒07‒15
five papers chosen by
Matthew Baker
US Naval Academy, USA
  1. Behavioral Consistent Market Equilibria under Procedural Rationality By Mikhail Anufriev; Giulio Bottazzi
  2. A New Type of Preference Reversal By Han Bleichrodt; Jose Luis Pinto-Prades
  3. Asset pricing with adaptive learning By Eva Carceles Poveda; Chryssi Giannitsarou
  4. On learnability of E–stable equilibria By Sergey Slobodyan
  5. Stochastic Gradient versus Recursive Least Squares Learning By Sergey Slobodyan; Anna Bogomolova
  1. By: Mikhail Anufriev (CeNDEF University of Amsterdam); Giulio Bottazzi (LEM Sant'Anna School of Advanced Studies, Pisa)
    Keywords: Asset Pricing Model, Procedural Rationality,, Heterogeneous Agents, CRRA Framework, Equilibrium Market Line,, Stability Analysis, Multiple Equilibria.
    JEL: G12 D83
    Date: 2006–07–04
    URL: http://d.repec.org/n?u=RePEc:sce:scecfa:225&r=evo
  2. By: Han Bleichrodt (Erasmus University, Rotterdam); Jose Luis Pinto-Prades (Department of Economics, Universidad Pablo de Olavide)
    Abstract: The classic preference reversal phenomenon arises in a comparison between a choice and a matching task. We present a new type of preference reversal which is entirely choice-based. Because choice is the basic primitive of economics, the preference reversal we observe is more troubling for economics. The preference reversal was observed in two experiments, both involving large representative samples from the Spanish population. The data were collected by professional interviewers in face-to-face interviews. Possible explanations for the preference reversal are the anticipation of disappointment and elation in risky choice and the impact of ethical considerations.
    Keywords: Preference reversal, Choice behavior, Stochastic dominance, Disappointment and elation, Health
    JEL: I10
    Date: 2006–07
    URL: http://d.repec.org/n?u=RePEc:pab:wpaper:06.18&r=evo
  3. By: Eva Carceles Poveda; Chryssi Giannitsarou
    Keywords: Asset pricing, adaptive learning, excess returns, predictability.
    JEL: G12 D83 D84
    Date: 2006–07–04
    URL: http://d.repec.org/n?u=RePEc:sce:scecfa:25&r=evo
  4. By: Sergey Slobodyan (CERGE-EI)
    Keywords: Adaptive learning, E–stability, stochastic gradient, learnability
    JEL: C62 D83 E17
    Date: 2006–07–04
    URL: http://d.repec.org/n?u=RePEc:sce:scecfa:451&r=evo
  5. By: Sergey Slobodyan; Anna Bogomolova
    Keywords: constant gain adaptive learning, E—stability, recursive least squares, stochastic gradient learning
    JEL: E10 E17
    Date: 2006–07–04
    URL: http://d.repec.org/n?u=RePEc:sce:scecfa:446&r=evo
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