Website
http://dataportal.arc.gov.au/NCGP/API/grants/DP140103501
Funding Status
Closed
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Funded Activity Summary
Heuristic-based behavioural models with an application to macroeconomics. This project will develop behavioural micro-foundations for economic models with heterogeneous agents. In these models the interaction of decision rules used by agents leads to complex phenomena at the aggregate level, for example, the cycles of bubbles and crashes. The agents switch between decision rules on the basis of past performance. However, a broad range of specifications of the rules and switching mechanisms has led to many degrees of freedom in modelling. In this project, laboratory experiments with paid human subjects will be used to discipline this modelling. The resulting models will improve macroeconomic and financial policy responses to volatile market conditions.Funded Activity Details
Start Date: 2014
End Date: 12-2018
Funding Scheme: Discovery Projects
Funding Amount: $190,000.00
Funder: Australian Research Council
Research Topics
ANZSRC Field of Research (FoR)
Applied Economics not elsewhere classified | Macroeconomics (incl. Monetary and Fiscal Theory) | Experimental Economics | Applied Economics |
