between the two. Keywords: Heterogeneous beliefs, discrete choice dynamics, cobweb model, en- dogenous business cycles, chaos … information choice in a simple cobweb economy as we shall do here. Brock and Hommes (1997), BH henceforth, introduce the concept … flnance. As a simple illustration of the ARED concept, BH 1997 consider a cobweb model where agents can choose between two …

In this paper we investigate the dynamics of the traditional cobweb model where producres are risk averse and seek to … prices based on L-step backward time series of market clearing prices. With constant absolute risk aversion, the cobweb model …

In this paper we try to neutralize the strategic behaviour commonly observed in experimental cobweb markets (Sutan and …

supply. In this connection for the forecast of a supply and demand of a labour authors suggest to use cobweb theorem …

The classical cobweb theorem is extended to include production lags and price forecasts. Price forecasting based on a … long lags lead to cycles of constant amplitude. The classical cobweb requires elasticity of demand to be greater than that …

literature. They are fully endogenous, based on a cobweb-like mechanism affecting not agricultural production, as was customary …

properties of a nonlinear cobweb market with a quadratic cost function and an isoelastic demand function. We consider two types …