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Zusatztext 'Cars Hommes has written an exciting book that will help students! researchers and policy-makers to formulate their own realistic behavioral rationality models with heterogeneous expectations. I can highly recommend reading it. This book is undoubtedly also suitable for teaching nonlinear economic dynamics with a strong behavioral flavor at Master or PhD level. Even advanced Bachelor students should be able to learn some important lessons.' Journal of Economics and Statistics Informationen zum Autor Cars Hommes is Professor of Economic Dynamics at the University of Amsterdam (UvA). After his PhD in Mathematical Economics at the University of Groningen, he founded the Center of Nonlinear Dynamics in Economics and Finance (CeNDEF), an interdisciplinary research group at UvA, pursuing theoretical, experimental and empirical research on complex systems, bounded rationality and behavioral agent-based models in economics and finance. Klappentext Recognising that the economy is a complex system with boundedly rational interacting agents, applies complexity modelling to economics and finance. Zusammenfassung Recognising that the economy is a complex system with boundedly rational interacting agents! the book presents a theory of behavioural rationality and heterogeneous expectations in economic systems! helping students! researchers and policy makers to build more realistic behavioural models in order to better manage crises in a complex global economy. Inhaltsverzeichnis 1. Introduction; 2. Bifurcations and chaos in 1-D systems; 3. Bifurcations and strange attractors in 2-D systems; 4. The nonlinear cobweb model; 5. The cobweb model with heterogeneous expectations; 6. An asset pricing model with heterogeneous beliefs; 7. Empirical validation; 8. Laboratory experiments.
