George Evans

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Staff Working Papers

Are Long-Horizon Expectations (De-)Stabilizing? Theory and Experiments

Staff Working Paper 2019-27 George Evans, Cars Hommes, Isabelle Salle, Bruce McGough
Most models in finance assume that agents make trading plans over the infinite future. We consider instead that they are boundedly rational and may only form forecasts over a limited horizon.

Are Sunspots Learnable? An Experimental Investigation in a Simple General-Equilibrium Model

Staff Working Paper 2013-14 Jasmina Arifovic, George Evans, Olena Kostyshyna
We conduct experiments with human subjects in a model with a positive production externality in which productivity is a non-decreasing function of the average level of employment of other firms.
Content Type(s): Staff Research, Staff Working Papers Topic(s): Economic models JEL Code(s): D, D8, D83, G, G2, G20