Cars H. Hommes

Government of Canada - Bank of Canada

234 Wellington Street

Ontario, Ottawa K1A 0G9

Canada

CeNDEF, Amsterdam School of Economics, University of Amsterdam

Roetersstraat 11

Amsterdam, NL-1018WB

Netherlands

http://https://www.uva.nl/en/profile/h/o/c.h.hommes/c.h.hommes.html

Tinbergen Institute

Burg. Oudlaan 50

Rotterdam, 3062 PA

Netherlands

  • Government of Canada - Bank of Canada

  • CeNDEF, Amsterdam School of Economics, University of Amsterdam

  • Tinbergen Institute

SCHOLARLY PAPERS

49

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366

CROSSREF CITATIONS

300

Scholarly Papers (49)

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1.

Economic Forecasting with an Agent-Based Model

Number of pages: 49 Posted: 18 Nov 2019 Last Revised: 06 Nov 2020
Sebastian Poledna, Michael Gregor Miess and Cars H. Hommes
International Institute for Applied Systems Analysis (IIASA), Vienna University of Economics and Business and Government of Canada - Bank of Canada
Downloads 1,579 (19,651)
Citation 20

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agent-based models, behavioral macro, macroeconomic forecasting, micro data

2.

Heterogeneous Agent Models in Economics and Finance

Tinbergen Institute Discussion Paper No. TI 05-056/1
Number of pages: 70 Posted: 13 Jun 2005
Cars H. Hommes
Government of Canada - Bank of Canada
Downloads 1,094 (33,782)
Citation 57

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Interacting agents, behavioral economics, evolutionary finance, complex adaptive systems, nonlinear dynamics, numerical simulation

3.

A Dynamic Analysis of Moving Average Rules

Tinbergen Institute Discussion Paper No. TI 05-057/1
Number of pages: 29 Posted: 13 Jun 2005
Carl Chiarella, Xuezhong He and Cars H. Hommes
University of Technology, Sydney - UTS Business School, Finance Discipline Group, Xi'an Jiaotong-Liverpool University (XJTLU) and Government of Canada - Bank of Canada
Downloads 1,064 (35,155)
Citation 10

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Moving averages, fundamentalists, trend followers, stability, bifurcation, evolutionary switching

4.

Complex Evolutionary Systems in Behavioral Finance

Tinbergen Institute Discussion Paper No. 2008-054/1
Number of pages: 70 Posted: 27 May 2008
Cars H. Hommes and Florian Wagener
Government of Canada - Bank of Canada and University of Amsterdam - Center for Nonlinear Dynamics in Economics and Finance (CeNDEF) - Department of Quantitative Economics
Downloads 772 (54,850)
Citation 9

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Asset pricing, heterogeneous beliefs, empirical validation, forecasting experiments

5.

Behavioral Heterogeneity in Stock Prices

Downloads 577 (79,827)
Citation 99

Behavioral Heterogeneity in Stock Prices

Journal of Economic Dynamics and Control, Vol. 31, 2007
Number of pages: 40 Posted: 04 Feb 2009
H. Peter Boswijk, Cars H. Hommes and Sebastiano Manzan
Amsterdam School of Economics, Government of Canada - Bank of Canada and City University of New York, Baruch College - Zicklin School of Business - Department of Economics and Finance
Downloads 335 (149,865)
Citation 3

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heterogeneous expectations, stock prices, bubbles, bounded rationality

Behavioral Heterogeneity in Stock Prices

Tinbergen Discussion Paper No. TI 05-05/21
Number of pages: 37 Posted: 03 Mar 2005
H. Peter Boswijk, Cars H. Hommes and S. Manzan
Amsterdam School of Economics, Government of Canada - Bank of Canada and University of Amsterdam - Department of Quantitative Economics (KE)
Downloads 242 (209,777)
Citation 18

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Asset pricing, behavioral finance, bounded rationality

6.

A Nonlinear Structural Model for Volatility Clustering

Number of pages: 21 Posted: 23 Oct 2000
Andrea Gaunersdorfer and Cars H. Hommes
University of Vienna, Deparment of Finance and Government of Canada - Bank of Canada
Downloads 479 (100,463)
Citation 29

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7.

Individual Expectations and Aggregate Macro Behavior

Downloads 393 (126,520)
Citation 28

Individual Expectations and Aggregate Macro Behavior

Tinbergen Institute Discussion Paper 13-016/II
Number of pages: 59 Posted: 15 Jan 2013 Last Revised: 11 Dec 2015
Tiziana Assenza, Peter Heemeijer, Cars H. Hommes and Domenico Massaro
Catholic University of Milan, University of Amsterdam - Department of Quantitative Economics (KE), Government of Canada - Bank of Canada and Catholic University of Milan
Downloads 334 (150,342)
Citation 29

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Experiments, New Keynesian Macro Model, Monetary Policy, Expectations, Heterogeneity

Individual Expectations and Aggregate Macro Behavior

De Nederlandsche Bank Working Paper No. 298
Number of pages: 48 Posted: 31 Oct 2011
Tiziana Assenza, Peter Heemeijer, Cars H. Hommes and Domenico Massaro
Catholic University of Milan, University of Amsterdam - Department of Quantitative Economics (KE), Government of Canada - Bank of Canada and Catholic University of Milan
Downloads 59 (601,716)
Citation 29

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Experiments, Monetary Policy, Expectations, Heterogeneity

8.

Testing for Nonlinear Structure and Chaos in Economic Time Series

Tinbergen Institute Discussion Papers No. 2006-030/1
Number of pages: 12 Posted: 04 Apr 2006
Cars H. Hommes and S. Manzan
Government of Canada - Bank of Canada and University of Amsterdam - Department of Quantitative Economics (KE)
Downloads 344 (146,688)
Citation 4

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nonlinearity, chaos, noise, self-organized criticality, Mackey-Glass-GARCH

9.

Interacting Agents in Finance

Tinbergen Institute Discussion Paper No. 06-029/1
Number of pages: 12 Posted: 31 Mar 2006
Cars H. Hommes
Government of Canada - Bank of Canada
Downloads 312 (162,679)
Citation 1

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heterogeneous agents, behavioral finance, bounded rationality, complexity

10.

Behavioral & Experimental Macroeconomics and Policy Analysis: A Complex Systems Approach

ECB Working Paper No. 2201
Number of pages: 104 Posted: 21 Nov 2018
Cars H. Hommes
Government of Canada - Bank of Canada
Downloads 305 (166,653)
Citation 27

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expectations feedback, learning, coordination failure, almost self-fulfilling equilibria, simple heuristics, experimental & behavioral macro-economics

11.

Monetary Policy Under Behavioral Expectations: Theory and Experiment

European Economic Review, 2019, 118:193–212
Number of pages: 52 Posted: 28 Jul 2015 Last Revised: 08 Jul 2019
Cars H. Hommes, Domenico Massaro and Matthias Weber
Government of Canada - Bank of Canada, Catholic University of Milan and University of St. Gallen - School of Finance
Downloads 300 (169,605)
Citation 23

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Behavioral Macroeconomics, Experimental Macroeconomics, Heterogeneous Expectations, Learning-to-Forecast Experiment

12.

The Formation of a Core Periphery Structure in Heterogeneous Financial Networks

Downloads 266 (192,638)
Citation 6

The Formation of a Core Periphery Structure in Heterogeneous Financial Networks

Tinbergen Institute Discussion Paper 14-098/II
Number of pages: 56 Posted: 30 Jul 2014 Last Revised: 22 Jun 2019
Daan in 't Veld, Marco van der Leij and Cars H. Hommes
University of Amsterdam - Department of Quantitative Economics, CeNDEF, CeNDEF, University of Amsterdam and Government of Canada - Bank of Canada
Downloads 142 (338,495)
Citation 4

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financial networks, core periphery structure, network formation models

The Formation of a Core-Periphery Structure in Heterogeneous Financial Networks

De Nederlandsche Bank Working Paper No. 528
Number of pages: 65 Posted: 08 Nov 2016
Marco van der Leij, Daan in 't Veld and Cars H. Hommes
CeNDEF, University of Amsterdam, University of Amsterdam - Department of Quantitative Economics, CeNDEF and Government of Canada - Bank of Canada
Downloads 124 (378,385)
Citation 5

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financial networks, core-periphery structure, network formation models, over-the-counter markets, interbank market

13.

Identifying Booms and Busts in House Prices Under Heterogeneous Expectations

Downloads 258 (197,803)
Citation 8

Identifying Booms and Busts in House Prices Under Heterogeneous Expectations

De Nederlandsche Bank Working Paper No. 450
Number of pages: 43 Posted: 04 Dec 2014
Wilko Bolt, Maria Demertzis, Cees G. H. Diks, Cars H. Hommes and Marco van der Leij
De Nederlandsche Bank (Dutch Central Bank), Bruegel, University of Amsterdam - Faculty of Economics and Business (FEB), Government of Canada - Bank of Canada and CeNDEF, University of Amsterdam
Downloads 195 (257,425)
Citation 16

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housing prices, heterogenous agents model, bounded rationality, bubbles

Identifying Booms and Busts in House Prices Under Heterogeneous Expectations

Tinbergen Institute Discussion Paper 14-157/II
Number of pages: 40 Posted: 24 Dec 2014
Wilko Bolt, Maria Demertzis, Cees G. H. Diks, Cars H. Hommes and Marco van der Leij
De Nederlandsche Bank (Dutch Central Bank), Bruegel, University of Amsterdam - Faculty of Economics and Business (FEB), Government of Canada - Bank of Canada and CeNDEF, University of Amsterdam
Downloads 63 (582,029)
Citation 16

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housing prices, heterogenous agents model, bounded rationality, bubbles

14.

More Hedging Instruments May Destabilize Markets

TI Discussion Paper No. 06-080/1
Number of pages: 34 Posted: 28 Sep 2006 Last Revised: 27 May 2008
William A. Brock, Cars H. Hommes and Florian Wagener
University of Wisconsin, Madison - Department of Economics, Government of Canada - Bank of Canada and University of Amsterdam - Center for Nonlinear Dynamics in Economics and Finance (CeNDEF) - Department of Quantitative Economics
Downloads 248 (205,650)
Citation 26

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Asset pricing, hedging, reinforcement learning, nonlinear dynamics, bifurcations

15.

Heterogeneous Agent Models: Two Simple Case Studies

Tinbergen Institute Discussion Paper No. TI 05-055/1
Number of pages: 36 Posted: 06 Jun 2005
Cars H. Hommes
Government of Canada - Bank of Canada
Downloads 215 (235,884)
Citation 1

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Interacting agents, complex adaptive systems, evolutionary dynamics, bounded rationality, nonlinear dynamics, bifurcations and chaos

16.

Super-Exponential Bubbles in Lab Experiments: Evidence for Anchoring Over-Optimistic Expectations on Price

Swiss Finance Institute Research Paper No. 12-20
Number of pages: 27 Posted: 18 May 2012
Andreas D. Huesler, Didier Sornette and Cars H. Hommes
ETH Zürich, Risks-X, Southern University of Science and Technology (SUSTech) and Government of Canada - Bank of Canada
Downloads 208 (243,146)
Citation 3

Abstract:

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rational expectations, nancial bubbles, speculation, anchoring, laboratory experiments, behavioral model, super-exponential growth, positive feedback, behavioral expectations

17.

Booms, Busts and Behavioural Heterogeneity in Stock Prices

Tinbergen Institute Discussion Paper 15-088/II
Number of pages: 48 Posted: 28 Jul 2015
Cars H. Hommes and Daan in 't Veld
Government of Canada - Bank of Canada and University of Amsterdam - Department of Quantitative Economics, CeNDEF
Downloads 159 (307,864)
Citation 9

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behavioural finance, bounded rationality, heterogeneous expectations, stock prices, financial crisis

18.

Learning, Forecasting and Optimizing: An Experimental Study

Downloads 155 (314,581)
Citation 10

Learning, Forecasting and Optimizing: An Experimental Study

European Economic Review, Vol. 61, No. July, 2013, Tinbergen Institute Discussion Paper No. 12-015/1
Number of pages: 52 Posted: 18 Feb 2012 Last Revised: 06 May 2016
Te Bao, John Duffy and Cars H. Hommes
Nanyang Technological University (NTU) - Division of Economics, University of California, Irvine and Government of Canada - Bank of Canada
Downloads 85 (489,730)
Citation 1

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Learning, Rational Expectations, Optimization, Experimental Economics, Bounded Rationality

Learning, Forecasting and Optimizing: An Experimental Study

European Economic Review, Vol. 61, 2013
Number of pages: 59 Posted: 16 Feb 2012 Last Revised: 13 May 2013
Te Bao, John Duffy and Cars H. Hommes
Nanyang Technological University (NTU) - Division of Economics, University of California, Irvine and Government of Canada - Bank of Canada
Downloads 70 (549,568)
Citation 10

Abstract:

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learning, rational expectations, optimization, experimental economics, bounded rationality

19.

Comparing Behavioural Heterogeneity Across Asset Classes

Downloads 152 (319,806)
Citation 2

Comparing Behavioural Heterogeneity Across Asset Classes

Number of pages: 43 Posted: 01 Apr 2017 Last Revised: 15 Sep 2017
Saskia ter Ellen, Cars H. Hommes and Remco C. J. Zwinkels
affiliation not provided to SSRN, Government of Canada - Bank of Canada and Vrije Universiteit Amsterdam
Downloads 106 (422,272)
Citation 1

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financial markets, heterogeneous expectations, market stability

Comparing Behavioural Heterogeneity Across Asset Classes

Norges Bank Working Paper 12/17
Number of pages: 43 Posted: 08 Sep 2017
Saskia ter Ellen, Cars H. Hommes and Remco C. J. Zwinkels
affiliation not provided to SSRN, Government of Canada - Bank of Canada and Vrije Universiteit Amsterdam
Downloads 46 (676,242)
Citation 1

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Financial Markets, Heterogeneous Expectations, Market Stability

20.

Interest Rate Rules and Macroeconomic Stability under Heterogeneous Expectations

Macroeconomic Dynamics, Forthcoming
Number of pages: 46 Posted: 07 May 2009 Last Revised: 03 Apr 2012
Mikhail Anufriev, Tiziana Assenza, Cars H. Hommes and Domenico Massaro
University of Technology Sydney (UTS), Catholic University of Milan, Government of Canada - Bank of Canada and Catholic University of Milan
Downloads 146 (330,384)
Citation 7

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Heterogeneous Expectations, Monetary Policy, Cumulative Process, Taylor Rule

21.

Individual Expectations, Limited Rationality and Aggregate Outcomes

Downloads 135 (351,476)
Citation 10

Individual Expectations, Limited Rationality and Aggregate Outcomes

Journal of Economic Dynamics and Control, Vol. 36, No. 8, 2012, Tinbergen Institute Discussion Paper No. 12-016/1
Number of pages: 45 Posted: 18 Feb 2012 Last Revised: 08 Oct 2012
Te Bao, Cars H. Hommes, Joep Sonnemans and Jan Tuinstra
Nanyang Technological University (NTU) - Division of Economics, Government of Canada - Bank of Canada, University of Amsterdam - Amsterdam School of Economics (ASE) and University of Amsterdam - Department of Quantitative Economics (KE)
Downloads 82 (500,615)
Citation 10

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Expectation feedback, under- and over-reaction, strategic substitutes and strategic complements, heuristic switching model, experimental economics

Individual Expectations, Limited Rationality and Aggregate Outcomes

Number of pages: 41 Posted: 15 Apr 2011
Te Bao, Cars H. Hommes, Joep Sonnemans and Jan Tuinstra
Nanyang Technological University (NTU) - Division of Economics, Government of Canada - Bank of Canada, University of Amsterdam - Amsterdam School of Economics (ASE) and University of Amsterdam - Department of Quantitative Economics (KE)
Downloads 53 (634,281)
Citation 4

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Expectation feedback, under- and overreaction, strategic substitutes and strategic complements, heuristic switching model, experimental economics

22.

Understanding Post-Pandemic Inflation Dynamics with a Behavioral Macroeconomic Model of the Canadian Economy

Number of pages: 12 Posted: 16 Mar 2023 Last Revised: 11 Apr 2023
Jakob Grazzini, Cars H. Hommes, Sebastian Poledna and Yang Zhang
University of Pavia, Government of Canada - Bank of Canada, International Institute for Applied Systems Analysis (IIASA) and Government of Canada - Bank of Canada
Downloads 131 (359,475)

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Central bank research, Inflation and prices, Coronavirus disease (COVID- 19), Behavioral macro

23.

Animal Spirits, Heterogeneous Expectations and the Amplification and Duration of Crises

Number of pages: 39 Posted: 04 Jul 2012 Last Revised: 05 Jul 2012
Tiziana Assenza, Cars H. Hommes and William A. Brock
Catholic University of Milan, Government of Canada - Bank of Canada and University of Wisconsin, Madison - Department of Economics
Downloads 131 (359,475)
Citation 2

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Heterogeneous Expectations, Crises, Animal Spirits

24.

Analyzing and Forecasting Economic Crises with An Agent-Based Model of the Euro Area

Number of pages: 46 Posted: 13 Mar 2023 Last Revised: 22 Apr 2023
Cars H. Hommes and Sebastian Poledna
Government of Canada - Bank of Canada and International Institute for Applied Systems Analysis (IIASA)
Downloads 130 (363,674)

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agent-based models, behavioural macro, macroeconomic forecasting, micro data, financial crisis, inflation and prices, coronavirus disease (COVID- 19)

25.

Coordination of Expectations in Asset Pricing Experiments

Downloads 130 (361,605)
Citation 67

Coordination of Expectations in Asset Pricing Experiments

Tinbergen Institute Discussion Paper No. 2003-010/1
Number of pages: 36 Posted: 19 May 2003
Cars H. Hommes, Joep Sonnemans, Jan Tuinstra and Henk van de Velden
Government of Canada - Bank of Canada, University of Amsterdam - Amsterdam School of Economics (ASE), University of Amsterdam - Department of Quantitative Economics (KE) and University of Amsterdam - Amsterdam School of Economics (ASE)
Downloads 130 (362,781)
Citation 67

Abstract:

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experimental economics, expectations, asset pricing, coordination

Coordination of Expectations in Asset Pricing Experiments

The Review of Financial Studies, Vol. 18, Issue 3, pp. 955-980, 2005
Posted: 29 Feb 2008
Cars H. Hommes, Joep Sonnemans, Jan Tuinstra and Henk van de Velden
Government of Canada - Bank of Canada, University of Amsterdam - Amsterdam School of Economics (ASE), University of Amsterdam - Department of Quantitative Economics (KE) and University of Amsterdam - Amsterdam School of Economics (ASE)

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time optimal control problems, Neumann parabolic equations with an infinite number of variables, Dubovitskii-Milyutin theorem, conical approximations, optimality conditions, Weierstrass theorem

26.

Do Investors Trade Too Much? A Laboratory Experiment

Number of pages: 57 Posted: 11 Dec 2015
João da Gama Batista, Domenico Massaro, Jean-Philippe Bouchaud, Damien Challet and Cars H. Hommes
CentraleSupélec, Catholic University of Milan, Capital Fund Management, CentraleSupélec and Government of Canada - Bank of Canada
Downloads 123 (376,928)
Citation 2

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27.

Bubble Formation and (In)Efficient Markets in Learning-to-Forecast and -Optimise Experiments

Economic Journal, Forthcoming, Tinbergen Institute Discussion Paper 15-107/II
Number of pages: 55 Posted: 08 Sep 2015
Te Bao, Cars H. Hommes and Tomasz Makarewicz
Nanyang Technological University (NTU) - Division of Economics, Government of Canada - Bank of Canada and University of Bamberg
Downloads 119 (386,194)
Citation 17

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Financial Bubbles, Experimental Finance, Rational Expectations, Learning to Forecast, Learning to Optimize

28.

Learning in Cobweb Experiments

Tinbergen Institute Discussion Paper No. 2003-020/1
Number of pages: 29 Posted: 12 Jun 2003
Cars H. Hommes, Joep Sonnemans, Jan Tuinstra and Henk van de Velden
Government of Canada - Bank of Canada, University of Amsterdam - Amsterdam School of Economics (ASE), University of Amsterdam - Department of Quantitative Economics (KE) and University of Amsterdam - Amsterdam School of Economics (ASE)
Downloads 100 (437,344)
Citation 10

Abstract:

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expectations, learning, cobweb dynamics, excess volatility

29.

Expectation Formation in Finance and Macroeconomics: A Review of New Experimental Evidence

Bao, T., Hommes, C., & Pei, J. (2021). Expectation Formation in Finance and Macroeconomics: a Review of New Experimental Evidence. Journal of Behavioral and Experimental Finance, 100591.
Number of pages: 26 Posted: 21 Aug 2021 Last Revised: 07 Oct 2021
Te Bao, Cars H. Hommes and Jiaoying Pei
Nanyang Technological University (NTU) - Division of Economics, Government of Canada - Bank of Canada and Division of Economics, School of Social Sciences, NEWRI-EPMC, Interdisciplinary Graduate Programme, Nanyang Technological UniversityNanyang Technological University (NTU), School of Humanities & Social Sciences, Division of Economics, Students
Downloads 96 (449,238)
Citation 2

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Learning to Forecast Experiment; Experimental Finance, Rational Expectations; Bubbles and Crashes; Behavioral Finance

30.

Behavioral Learning Equilibria in the New Keynesian Model

De Nederlandsche Bank Working Paper No. 654
Number of pages: 73 Posted: 16 Sep 2019
Cars H. Hommes, Kostas Mavromatis, Tolga Ozden and Mei Zhu
Government of Canada - Bank of Canada, De Nederlandsche Bank, University of Amsterdam, Faculty of Economics and Business (FEB), Students and Shanghai University of Finance and Economics
Downloads 92 (461,830)
Citation 19

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Bounded Rationality, Behavioral Learning Equilibrium, Adaptive Learning, Behavioral New Keynesian Macro-Model, Monetary Policy

31.

Reflexivity, Expectations Feedback and Almost Self-Fulfilling Equilibria: Economic Theory, Empirical Evidence and Laboratory Experiments

Tinbergen Institute Discussion Paper 13-206/II
Number of pages: 24 Posted: 20 Dec 2013
Cars H. Hommes
Government of Canada - Bank of Canada
Downloads 88 (474,773)

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expectation feedback, self-fulfilling beliefs, heuristic switching model, experimental macroeconomics

32.

Production Delay and Belief Distributions in a Continuous-Time Cobweb Model

Number of pages: 33 Posted: 21 Feb 2017
Cars H. Hommes and Kai Li
Government of Canada - Bank of Canada and Macquarie Business School, Macquarie University
Downloads 87 (478,045)

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Cobweb model, heterogeneity, adaptiveness, production delay, belief distribution, stability, chaos

33.

Simple Forecasting Heuristics that Make Us Smart: Evidence from Different Market Experiments

Number of pages: 50 Posted: 24 Jul 2015
Mikhail Anufriev, Cars H. Hommes and Tomasz Makarewicz
University of Technology Sydney (UTS), Government of Canada - Bank of Canada and University of Bamberg
Downloads 86 (481,543)
Citation 11

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Expectation Formation, Learning to Forecast Experiment, Genetic Algorithm Model of Individual Learning

34.

Animal Spirits, Heterogeneous Expectations and the Emergence of Booms and Busts

Tinbergen Institute Discussion Paper 13-205/II
Number of pages: 39 Posted: 20 Dec 2013
Tiziana Assenza, William A. Brock and Cars H. Hommes
Catholic University of Milan, University of Wisconsin, Madison - Department of Economics and Government of Canada - Bank of Canada
Downloads 82 (495,547)
Citation 2

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Heterogeneous Expectations, Crises, Animal Spirits

35.

Forward Guidance and the Role of Central Bank Credibility under Heterogeneous Beliefs

De Nederlandsche Bank Working Paper No. 614
Number of pages: 56 Posted: 06 Dec 2018
Gavin Goy, Cars H. Hommes and Kostas Mavromatis
De Nederlandsche Bank, Government of Canada - Bank of Canada and De Nederlandsche Bank
Downloads 76 (518,058)
Citation 11

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Forward Guidance, Heterogeneous Beliefs, Bounded Rationality, Central Bank Learning

36.

Internal Rationality, Heterogeneity, and Complexity in the New Keynesian Model

Number of pages: 58 Posted: 28 Dec 2017
Cars H. Hommes, Robert Jump and Paul Levine
Government of Canada - Bank of Canada, University of the West of England (UWE) - Department of Accounting, Economics, and Finance and School of Economics, University of Surrey
Downloads 68 (550,806)
Citation 2

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New Keynesian behavioural model, internal rationality, heterogeneous expectations

37.

Behavioral Learning Equilibria

Tinbergen Institute Discussion Paper 13-014/II
Number of pages: 52 Posted: 15 Jan 2013
Cars H. Hommes and Mei Zhu
Government of Canada - Bank of Canada and Shanghai University of Finance and Economics
Downloads 68 (550,806)
Citation 6

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Bounded rationality, Stochastic consistent expectations equilibrium, Adaptive learning, Excess volatility, Inflation persistence

38.

Behaviorally Rational Expectations and Almost Self-Fulfilling Equilibria

Tinbergen Institute Discussion Paper 13-204/II
Number of pages: 30 Posted: 20 Dec 2013
Cars H. Hommes
Government of Canada - Bank of Canada
Downloads 64 (568,483)
Citation 7

Abstract:

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expectation feedback, self-fulfilling beliefs, heuristic switching model, experimental economics

39.

Bubbles, Crashes and Information Contagion in Large-Group Asset Market Experiments

Tinbergen Institute Discussion Paper 2019-016/II
Number of pages: 46 Posted: 13 Mar 2019
Cars H. Hommes, Anita Kopányi-Peuker and Joep Sonnemans
Government of Canada - Bank of Canada, Radboud University Nijmegen - Department of Economics and University of Amsterdam - Amsterdam School of Economics (ASE)
Downloads 63 (573,013)
Citation 6

Abstract:

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experimental finance, expectation formation, learning to forecast, financial bubbles

40.

Innovate or Imitate? Behavioural Technological Change

Tinbergen Institute Discussion Paper 13-099/II
Number of pages: 30 Posted: 27 Jul 2013
Cars H. Hommes and Paolo Zeppini
Government of Canada - Bank of Canada and Eindhoven University of Technology (TUE)
Downloads 62 (577,514)
Citation 1

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C62, C73, D21, O33

41.

Inflation Expectations and Stability in an Overlapping Generations Experiment with Money Creation

De Nederlandsche Bank Working Paper No. 241
Number of pages: 77 Posted: 21 Oct 2011
Peter Heemeijer, Cars H. Hommes, Joep Sonnemans and Jan Tuinstra
University of Amsterdam - Department of Quantitative Economics (KE), Government of Canada - Bank of Canada, University of Amsterdam - Amsterdam School of Economics (ASE) and University of Amsterdam - Department of Quantitative Economics (KE)
Downloads 59 (591,667)

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Experimental economics, Expectations feedback, Inflation expectations, Price stability, Anchoring

42.

The COVID-19 Consumption Game-Changer: Evidence from a Large-Scale Multi-Country Survey

Downloads 23 (606,676)
Citation 2

The COVID-19 Consumption Game-Changer: Evidence from a Large-Scale Multi-Country Survey

Tinbergen Institute Discussion Paper 2021-096/VI
Number of pages: 60 Posted: 12 Nov 2021
Alexander Hodbod, Cars H. Hommes and Isabelle Salle
European Central Bank (ECB), Government of Canada - Bank of Canada and Government of Canada - Bank of Canada
Downloads 23 (853,222)

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COVID-19, household behavior, consumption, expectations, experiences, consumer preferences, economic resilience, sectoral changes, zombification, fiscal policy

43.

Production Delays and Price Dynamics

Number of pages: 37 Posted: 24 Sep 2021
Cars H. Hommes, Kai Li and Florian Wagener
Government of Canada - Bank of Canada, Macquarie Business School, Macquarie University and University of Amsterdam - Center for Nonlinear Dynamics in Economics and Finance (CeNDEF) - Department of Quantitative Economics
Downloads 56 (606,676)
Citation 1

Abstract:

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Cobweb model, heterogeneity, adaptiveness, production delay, stabil- ity, chaos

44.

Sentiment-Driven Speculation in Financial Markets with Heterogeneous Beliefs: A Machine Learning Approach

Number of pages: 32 Posted: 01 May 2023
Tommaso Di Francesco and Cars H. Hommes
University of Amsterdam - CeNDEF and Government of Canada - Bank of Canada
Downloads 44 (673,222)

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Bounded Rationality, Heterogenous Beliefs, Machine Learning, Financial Markets

45.

From Self-Fulfilling Mistakes to Behavioral Learning Equilibria

Number of pages: 39 Posted: 30 Jan 2017
Cars H. Hommes
Government of Canada - Bank of Canada
Downloads 35 (732,534)

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expectations, learning, bounded rationality, chaos, almost self-fulfilling equilibria, laboratory experiments

46.

Planar Learning to Forecast Market Games

Number of pages: 38 Posted: 12 Jul 2021
Eva Levelt, Cars H. Hommes and Myrna Hennequin
University of Amsterdam, Faculty of Economics and Business (FEB), Students, Government of Canada - Bank of Canada and University of Sussex
Downloads 28 (785,181)

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Learning to Forecast Experiment, Heuristic Switching Model

47.

Leverage cycles when banks have a choice

Number of pages: 41 Posted: 12 Jul 2021
Eva Levelt, Kostas Mavromatis and Cars H. Hommes
University of Amsterdam, Faculty of Economics and Business (FEB), Students, De Nederlandsche Bank and Government of Canada - Bank of Canada
Downloads 27 (793,114)

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Leverage, Heuristic Switching Model, Short-selling

48.

What People Believe About Monetary Finance and What We Can(‘t) Do About it: Evidence from a Large-Scale, Multi-Country Survey Experiment

CESifo Working Paper No. 10574
Number of pages: 98 Posted: 26 Jul 2023
Cars H. Hommes, Julien Pinter and Isabelle Salle
Government of Canada - Bank of Canada, Charles University - Institute of Economic Studies and University of Ottawa
Downloads 11 (939,843)

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large-scale household survey, information-provision experiment, RCT, central bank communication, expectations

49.

Success and Failure of Technical Analysis in the Cocoa Futures Market

Posted: 20 Jun 2005
H. Peter Boswijk, Gerwin A. W. Griffioen and Cars H. Hommes
Amsterdam School of Economics, University of Amsterdam - Faculty of Economics and Business (FEB) and Government of Canada - Bank of Canada

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technical analysis, parametric bootstrap techniques, commodity futures, exchange rate