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Generating Unemployment Expectations of the “Man in the Street”

  • Luca Gerotto
  • Paolo Pellizzari
Conference paper
Part of the Lecture Notes in Computer Science book series (LNCS, volume 10978)

Abstract

Why are unemployment expectations of the “man in the street” markedly different from professional forecasts? We present an agent-based model to explain this disconnection using boundedly rational agents with different levels of education.

Keywords

Agent-based modeling Bounded rationality Unemployment expectations 

References

  1. 1.
    Carroll, C.D.: The epidemiology of macroeconomic expectations. In: Blume, L.E., Durlauf, S.N. (eds.) The Economy as an Evolving Complex System, III: Current Perspectives and Future Directions, pp. 5–29. Oxford University Press, Oxford, NewYork (2006)Google Scholar
  2. 2.
    Wilensky, U.: NetLogo. Center for Connected Learning and Computer-Based Modeling, Northwestern University, Evanston (1999). http://ccl.northwestern.edu/netlogo/

Copyright information

© Springer International Publishing AG, part of Springer Nature 2018

Authors and Affiliations

  1. 1.Department of EconomicsCa’ Foscari UniversityVeniceItaly

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