We study learning in an individual choice price forecasting task in which subjects must learn coefficients of two independent variables in stationary linear stochastic processes. The 99 subjects each forecast in 480 trials with feedback. Learning is tracked by fitting individual forecasts to the...

For many years psychological studies of the learning process have used a simulated medical diagnosis task in which symptom configurations are probabilistically related to diseases. Participants are given a set of symptoms and asked to indicate which disease is present, and feedback is given on...

We study human learning in a individual choice laboratory task called Orange Juice Futures price forecasting (OJF), in which subjects must implicitly learn the coefficients of two independent variables in a stationary linear stochastic process. The 99 subjects each forecast in 480 trials with...

This chapter reports several robustness checks. OJ specifications designed to capture prior beliefs and non-linear responses to news detected some transient effects in many subjects, but for the most part the final regression is indistinguishable from the basic specification presented in this...

To what extent are stakeholders’ land use decisions influenced by heterogeneous land-use preferences, spatial externalities, and heterogeneous suitability features? To explore this issue we develop and calibrate a heterogeneous-agent portfolio-theory model to the 1940-1993 Indiana land-use...

This work investigates whether traders’ state dependant expectations biases can account for anomalous country fund price movements for a seven year period spanning the 2007-08 banking crises. We provide a multiple agent asset-pricing model that includes both rational traders and traders who...

The Burren landscape which stands out as one of the most magnificent managed landscapes in all of Europe has recently come under threat due to a shift in farm management practices. As a result of evolving market trends and social structures, traditional farming methods are being replaced by more...