; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "Expectationally-Driven Market Volatility: An Experimental Study"; ; "batchuser@example.com"; "Marimon, Ramon, 1953-", "Spear, Stephen E.", "Shyam Sunder, 1944-"; "Federal Reserve Bank of Minneapolis"; "E44 - Financial Markets and the Macroeconomy", "F17 - Trade: Forecasting and Simulation", "C92 - Design of Experiments: Laboratory, Group Behavior", "E32 - Business Fluctuations; Cycles", "C62 - Existence and Stability Conditions of Equilibrium"; "We study the existence and robustness of expectationally-driven price volatility in experimental overlapping generation economies. Iin the theoretical model under study there exist “pure sunspot” equilibria which can be “learned” if agents use some adaptive learning rules. Our data show the existence of expectationally-driven cycles, but only after subjects have been exposed to a sequence of real shocks and “learned” a real cycle. In this sense, we show evidence of _path-dependent_ price volatility. "^^; "1992-08-01"; "2019-05-21T18:06:32.288293643+00:00"^^; "https://doi.org/10.21034/dp.73"; ; "https://creativecommons.org/licenses/by-nc/4.0/"; "Wed Apr 22 16:41:55 2020"; "https://creativecommons.org/licenses/by-nc/4.0/"; "Research Paper"; "489", "747", "723"; "Discussion paper (Federal Reserve Bank of Minneapolis. Institute for Empirical Macroeconomics)"; "073"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Institute for Empirical Macroeconomics"; "Published in: _Journal of Economic Theory_ (Vol. 61, No. 1, October 1993, pp. 74-103) https://doi.org/10.1006/jeth.1993.1059."^^; ; "Publication" . ; .