A laboratory experiment on the heuristic switching model
(2018)
Journal Article
Anufriev, M., Chernulich, A., & Tuinstra, J. (2018). A laboratory experiment on the heuristic switching model. Journal of Economic Dynamics and Control, 91, 21-42. https://doi.org/10.1016/j.jedc.2018.04.004
We present results from the first laboratory experiment on the seminal heuristic switching model introduced by Brock and Hommes (1997, 1998). Subjects choose between two alternatives, a sophisticated and stabilizing, but costly, heuristic, and a dest... Read More about A laboratory experiment on the heuristic switching model.