The Instability of a Heterogeneous Cobweb economy: a Strategy Experiment on Expectation Formation

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Financial markets as nonlinear adaptive evolutionary systems (2001, background): “…some first results from the asset pricing framework we will briefly discuss some general conclusions from a series of three related experimental papers, Hommes et al (1999a, 2000a) and Sonnemans et al (1999), testing for expectation formation in a different but related framework, the cobweb model.”
Commodity markets, price limiters and speculative price dynamics (2005, methodology): “Promising work on experimental asset pricing markets has been done by Smith (1991) or Sonnemans et al. (2004).”
The effectiveness of Keynes-Tobin transaction taxes when heterogeneous agents can trade in different markets: A behavioral finance approach (2006, result): “Similar results are reported by Caginalp, Porter and Smith (2001) and Sonnemans et al. (2003).”