The paper reexamines an agent-based model of opinion formation under bounded confidence with heterogeneous agents. The paper is novel in that it extends the standard model of opinion dynamics with the assumption that interacting agents share the desire to exchange opinion. In particular, the...

The paper investigates the emergence of complex market expectations (opinion dynamics) around nominal exchange rate adjustments using a macro-financial model of a small open economy featuring heterogeneous expectation formation (chartists and fundamentalists) and gradual adjustment processes in...

The paper treats opinion dynamics under bounded confidence when agents employ, beside an arithmetic mean, means like a geometric mean, a power mean or a random mean in aggregating opinions. The different kinds of collective dynamics resulting from these various ways of averaging are studied and...

The paper reexamines an agent-based model of opinion formation under bounded confidence with heterogeneous agents. The paper is novel in that it extends the standard model of opinion dynamics with the assumption that interacting agents share the desire to exchange opinion. In particular, the...