2015, №2

Modeling expectations in systems with heterogeneous agents

20.06.201519 октября, 2023Без комментариев

Abstract:

Influence of endogenous rate of time preferences on dynamics of stochastic models with heterogeneous agents with use of algorithm of formation of expectations, related with learning agents by a trial and error method is considered. It is shown, that in models with endogenous rate of time preferences speed of a convergence of this algorithm considerably exceeds speed of a convergence of algorithm in models with constant rate of time preferences. Presence of a feedback for rate of time preferences leads to to decrease volatility of the researched variables.

PDF full
Downloaded: 65

Leonid A. Serkov — Cand. Sci. (Physics and Mathematics), Associate Professor, Head of the Department of Applied Informatics, Ural Institute of Business (Ekaterinburg, Russian Federation; e-mail: dsge2012@mail.ru).