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predict exchange rates and to advocate floating exchange rates, economists unwittingly employ nominalist heuristics. Second …, nominalist heuristics have influenced actual exchange rates through the centuries, and this finding is replicated in the … laboratory. Third, nominalist heuristics are incompatible with expected utility theory which excludes the evaluation stage, and …
Persistent link: https://www.econbiz.de/10003867227
Persistent link: https://www.econbiz.de/10011629787
predict exchange rates and to advocate floating exchange rates, economists unwittingly employ nominalist heuristics. Second …, nominalist heuristics have influenced actual exchange rates through the centuries, and this finding is replicated in the … laboratory. Third, nominalist heuristics are incompatible with expected utility theory which excludes the evaluation stage, and …
Persistent link: https://www.econbiz.de/10010274186
This paper's field evidence is: (1) many official sectors rapidly forget the damage of the 1982-85 exchange rate liquidity crisis and reverted to what caused that crisis, namely a closed economy clean floats perspective; and (2) the 2006-2008/9 exchange rate liquidity shock would have been more...
Persistent link: https://www.econbiz.de/10003906415
or ratios. Abstractions used in the evaluation stage of decision making typically involve nominalist heuristics that are …. But in the typical complex situation giving rise to nominalist heuristics neither 1) nor 2) hold, and therefore what is … paper. Pope et al 2009b, shows field and laboratory evidence of heuristics in the form of prominent numbers entering …
Persistent link: https://www.econbiz.de/10003867222
This paper’s field evidence is: (1) many official sectors rapidly forget the damage of the 1982-85 exchange rate liquidity crisis and reverted to what caused that crisis, namely a closed economy clean floats perspective; and (2) the 2006-2008/9 exchange rate liquidity shock would have been more...
Persistent link: https://www.econbiz.de/10010274185
or ratios. Abstractions used in the evaluation stage of decision making typically involve nominalist heuristics that are …. But in the typical complex situation giving rise to nominalist heuristics neither 1) nor 2) hold, and therefore what is … paper. Pope et al 2009b, shows field and laboratory evidence of heuristics in the form of prominent numbers entering …
Persistent link: https://www.econbiz.de/10010270023
Persistent link: https://www.econbiz.de/10000986462
Persistent link: https://www.econbiz.de/10001246342
Persistent link: https://www.econbiz.de/10012138483