Details about Cars Hommes

E-mail:
Homepage:	http://www.fee.uva.nl/cendef/hommes/hommes.htm
Postal address:	Department of Quantitative Economics CeNDEF University of Amsterdam Roetersstraat 11 NL-1018 WB Amsterdam The Netherlands
Workplace:	Center for Nonlinear Dynamics in Economics and Finance (CeNDEF), Faculteit Economie en Bedrijfskunde (Faculty of Economics and Business), Universiteit van Amsterdam, (more information at EDIRC) Tinbergen Instituut (Tinbergen Institute), (more information at EDIRC)

Access statistics for papers by Cars Hommes.

Last updated 2009-11-05. Update your information in the RePEc Author Service.

Short-id: pho21

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Working Papers

2008

1. Complex Evolutionary Systems in Behavioral Finance
   Tinbergen Institute Discussion Papers, Tinbergen Institute
   Also in CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance (2008)
2. Forward and Backward Dynamics in Implicitly Defined Overlapping Generations Models
   Working Papers, University of Urbino Carlo Bo, Department of Economics
   See also Journal Article in Journal of Economic Behavior & Organization (2009)
3. Individual Expectations and Aggregate Behavior in Learning to Forecast Experiments
   Kiel Working Papers, Kiel Institute for the World Economy
4. Interest Rate Rules with Heterogeneous Expectations
   CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance View citations
5. More Hedging Instruments may destablize Markets
   Tinbergen Institute Discussion Papers, Tinbergen Institute View citations
   Also in CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance (2006)
   Working Papers, Warwick Business School, Financial Econometrics Research Centre (2006)
   See also Journal Article in Journal of Economic Dynamics and Control (2009)
6. More hedging instruments may destabilize markets (Revised version, April 2008)
   CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance

2007

7. Bounded Rationality and Learning in Complex Markets
   CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance
8. Complexity, Evolution and Learning: a simple story of heterogeneous expectations and some empirical and experimental validation
   CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance
9. Evolution of Market Heuristics
   CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance View citations

2006

10. E&F Chaos: a user friendly software package for nonlinear economic dynamics
    CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance View citations
    See also Journal Article in Computational Economics (2008)
11. Interacting Agents in Finance
    Tinbergen Institute Discussion Papers, Tinbergen Institute View citations
12. Interacting agents in finance, entry written for the New Palgrave Dictionary of Economics, Second Edition, edited by L. Blume and S. Durlauf, Palgrave Macmillan, forthcoming 2006
    CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance
13. Price Stability and Volatility in Markets with Positive and Negative Expectations Feedback: An Experimental Investigation
    CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance View citations
    Also in Working Papers, Warwick Business School, Financial Econometrics Research Centre (2006) View citations
    See also Journal Article in Journal of Economic Dynamics and Control (2009)
14. Testing for Nonlinear Structure and Chaos in Economic Time. A Comment
    Tinbergen Institute Discussion Papers, Tinbergen Institute

2005

15. A Dynamic Analysis of Moving Average Rules
    Tinbergen Institute Discussion Papers, Tinbergen Institute View citations
    Also in Research Paper Series, Quantitative Finance Research Centre, University of Technology, Sydney (2004)
    CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance (2004)
    Computing in Economics and Finance 2004, Society for Computational Economics (2004)
    See also Journal Article in Journal of Economic Dynamics and Control (2006)
16. A nonlinear structural model for volatility clustering
    CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance View citations
    Also in CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance (2000) View citations
17. Adaptive Rational Equilibrium with Forward Looking Agents, fortcoming in International Journal of Economic Theory (IJET) 2006, special issue in honor of Jean-Michel Grandmont
    CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance
18. Behavioral Heterogeneity in Stock Prices
    Tinbergen Institute Discussion Papers, Tinbergen Institute View citations
    Also in CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance (2005) View citations
    See also Journal Article in Journal of Economic Dynamics and Control (2007)
19. Heterogeneous Agent Models in Economics and Finance
    Tinbergen Institute Discussion Papers, Tinbergen Institute View citations
    See also Chapter (2006)
20. Heterogeneous Agent Models in Economics and Finance, In: Handbook of Computational Economics II: Agent-Based Computational Economics, edited by Leigh Tesfatsion and Ken Judd, Elsevier, Amsterdam 2006, pp.1109-1186
    CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance
21. Heterogeneous Agent Models: Two Simple Case Studies
    Tinbergen Institute Discussion Papers, Tinbergen Institute View citations
22. Heterogeneous Agents Models: two simple examples, forthcoming In: Lines, M. (ed.) Nonlinear Dynamical Systems in Economics, CISM Courses and Lectures, Springer, 2005, pp.131-164
    CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance
23. Price expectations in the laboratory in positive and negative feedback systems
    Computing in Economics and Finance 2005, Society for Computational Economics View citations
24. Testing for Nonlinear Structure and Chaos in Economic Time Series: A Comment
    CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance

2004

25. Coordination of Expectations in Asset Pricing Experiments (Version March 2004)
    CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance
26. Do hedging instruments stabilize markets?
    Computing in Economics and Finance 2004, Society for Computational Economics
27. Economic Dynamics, Contribution to the Encyclopedia of Nonlinear Science, Alwyn Scott (ed.), Routledge, 2004
    CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance
28. Forming price expectations in positive and negative feedback systems
    CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance

2003

29. Bifurcation Routes to Volatility Clustering under Evolutionary Learning
    CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance View citations
    See also Journal Article in Journal of Economic Behavior & Organization (2008)
30. Coordination of Expectations in Asset Pricing Experiments
    Tinbergen Institute Discussion Papers, Tinbergen Institute View citations
    Also in DNB Staff Reports (discontinued), Netherlands Central Bank View citations
    See also Journal Article in Review of Financial Studies (2005)
31. Does eductive stability imply evolutionary stability?
    CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance View citations
32. Mean Reversion, Bubbles and Heterogeneous Beliefs in Stock Prices
    Computing in Economics and Finance 2003, Society for Computational Economics
33. Nonlocal onset of instability in an asset pricing model with heterogeneous agents
    CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance

2002

34. A Robust Rational Route to in a Simple Asset Pricing Model (revised March 2004)
    CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance
35. Coordination of Expectations in Asset Pricing Experiments (Revised June 2003)
    CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance
36. Evolutionary dynamics in markets with many trader types
    CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance View citations
    See also Journal Article in Journal of Mathematical Economics (2005)
37. Heterogeneous beliefs and routes to complex dynamics in asset pricing models with price contingent contracts
    Working papers, Wisconsin Madison - Social Systems View citations
38. Learning in Coweb Experiments
    CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance

2001

39. Adaptive Beliefs and the volatility of asset prices
    CeNDEF Workshop Papers, January 2001, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance View citations
40. Bifurcation Routes to Volatility Clustering
    Tinbergen Institute Discussion Papers, Tinbergen Institute
    Also in CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance (2000) View citations
41. Consistent Expectations Equilibria and Complex Dynamics in Renewable Resource Markets
    Tinbergen Institute Discussion Papers, Tinbergen Institute View citations
    Also in CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance (2000)
    Tinbergen Institute Discussion Papers, Tinbergen Institute (1999)
    See also Journal Article in Macroeconomic Dynamics (2001)
42. Evolutionary Dynamics in Financial Markets With Many Trader Types
    CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance View citations
    Also in Working papers, Wisconsin Madison - Social Systems (2001) View citations
    Computing in Economics and Finance 2001, Society for Computational Economics (2001) View citations
43. Financial Markets as Nonlinear Adaptive Evolutionary Systems
    Tinbergen Institute Discussion Papers, Tinbergen Institute View citations
    Also in CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance View citations
44. Heterogeneous beliefs and and routes to complez dynamics in asset pricing models with price contingent contracts
    CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance
45. Modeling the stylized facts in finance through simple nonlinear adaptive systems
    CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance View citations
46. Stochastic Consistent Expectations Equilibria
    CeNDEF Workshop Papers, January 2001, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance
    Also in Computing in Economics and Finance 2000, Society for Computational Economics (2000)
47. Succes and Failure of Technical Trading Strategies in the Cocoa Futures Market
    Computing in Economics and Finance 2001, Society for Computational Economics View citations
    Also in CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance (2000) View citations
    Tinbergen Institute Discussion Papers, Tinbergen Institute (2001) View citations
    CeNDEF Workshop Papers, January 2001, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance (2001) View citations

1999

48. Cobweb Dynamics under Bounded Rationality
    CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance View citations
49. Complex Nonlinear Dynamics and Computational Methods
    CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance View citations
50. Endogenous Fluctuations under Evolutionary Pressure in Cournot Competition
    CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance View citations
    See also Journal Article in Games and Economic Behavior (2002)
51. Expectation Driven Price Volatility in an Experimental Cobweb Economy
    CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance View citations
52. The Instability of a Heterogeneous Cobweb economy: a Strategy Experiment on Expectation Formation
    CeNDEF Working Papers, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance View citations
    See also Journal Article in Journal of Economic Behavior & Organization (2004)

1998

53. Rational animal spirits
    Working papers, Wisconsin Madison - Social Systems View citations

1997

54. Consistent Expectations Equilibria
    Tinbergen Institute Discussion Papers, Tinbergen Institute View citations
    See also Journal Article in Macroeconomic Dynamics (1998)
55. Heterogeneous Beliefs and the Non-Linear Cobweb Model
    Tinbergen Institute Discussion Papers, Tinbergen Institute
    See also Journal Article in Journal of Economic Dynamics and Control (2000)
56. Models of Compelxity in Economics and Finance
    Working papers, Wisconsin Madison - Social Systems View citations

1996

57. A Rational Route to Randomness
    Working papers, Wisconsin Madison - Social Systems View citations
    See also Journal Article in Econometrica (1997)
58. Hetergeneous Beliefs and Routes to Chaos in a Simple Asset Pricing Model
    Working papers, Wisconsin Madison - Social Systems View citations
    See also Journal Article in Journal of Economic Dynamics and Control (1998)

1995

59. Investment constrained endogenous business cycles in a two-dimensional OLG model
    CEPREMAP Working Papers (Couverture Orange), CEPREMAP
60. Rational Routes to Randomness
    Working papers, Wisconsin Madison - Social Systems View citations
    Also in Working Papers, Santa Fe Institute (1995) View citations

Undated

61. Interest Rate Rules and Macroeconomic Stability under Heterogeneous Expectations
    Tinbergen Institute Discussion Papers, Tinbergen Institute

Journal Articles

2009

1. Forward and backward dynamics in implicitly defined overlapping generations models
   Journal of Economic Behavior & Organization, 2009, 71, (2), 110-129 View citations
   See also Working Paper (2008)
2. More hedging instruments may destabilize markets
   Journal of Economic Dynamics and Control, 2009, 33, (11), 1912-1928 View citations
   See also Working Paper (2008)
3. Price stability and volatility in markets with positive and negative expectations feedback: An experimental investigation
   Journal of Economic Dynamics and Control, 2009, 33, (5), 1052-1072
   See also Working Paper (2006)

2008

4. Bifurcation routes to volatility clustering under evolutionary learning
   Journal of Economic Behavior & Organization, 2008, 67, (1), 27-47 View citations
   See also Working Paper (2003)
5. E&F Chaos: A User Friendly Software Package for Nonlinear Economic Dynamics
   Computational Economics, 2008, 32, (1), 221-244
   See also Working Paper (2006)
6. Expectations and bubbles in asset pricing experiments
   Journal of Economic Behavior & Organization, 2008, 67, (1), 116-133 View citations

2007

7. Behavioral heterogeneity in stock prices
   Journal of Economic Dynamics and Control, 2007, 31, (6), 1938-1970 View citations
   See also Working Paper (2005)
8. Paul De Grauwe and Marianna Grimaldi, The exchange rate in a behavioral finance framework, Princeton University Press (2006)
   International Review of Economics & Finance, 2007, 16, (3), 455-457
   Also in International Review of Economics & Finance, 2007, 16, (2), 300-302 (2007)

2006

9. A dynamic analysis of moving average rules
   Journal of Economic Dynamics and Control, 2006, 30, (9-10), 1729-1753 View citations
   See also Working Paper (2005)
10. Adaptive rational equilibrium with forward looking agents
    International Journal of Economic Theory, 2006, 2, (3-4), 241-278 View citations
11. Comments on "Testing for nonlinear structure and chaos in economic time series"
    Journal of Macroeconomics, 2006, 28, (1), 169-174 View citations

2005

12. A robust rational route to randomness in a simple asset pricing model
    Journal of Economic Dynamics and Control, 2005, 29, (6), 1043-1072 View citations
13. A strategy experiment in dynamic asset pricing
    Journal of Economic Dynamics and Control, 2005, 29, (4), 823-843 View citations
14. Coordination of Expectations in Asset Pricing Experiments
    Review of Financial Studies, 2005, 18, (3), 955-980 View citations
    See also Working Paper (2003)
15. Evolutionary dynamics in markets with many trader types
    Journal of Mathematical Economics, 2005, 41, (1-2), 7-42 View citations
    See also Working Paper (2002)

2004

16. The instability of a heterogeneous cobweb economy: a strategy experiment on expectation formation
    Journal of Economic Behavior & Organization, 2004, 54, (4), 453-481 View citations
    See also Working Paper (1999)

2002

17. Endogenous fluctuations under evolutionary pressure in Cournot competition
    Games and Economic Behavior, 2002, 40, (2), 232-269 View citations
    See also Working Paper (1999)

2001

18. CONSISTENT EXPECTATIONS EQUILIBRIA AND COMPLEX DYNAMICS IN RENEWABLE RESOURCE MARKETS
    Macroeconomic Dynamics, 2001, 5, (02), 180-203 View citations
    See also Working Paper (2001)

2000

19. Heterogeneous beliefs and the non-linear cobweb model
    Journal of Economic Dynamics and Control, 2000, 24, (5-7), 761-798 View citations
    See also Working Paper (1997)

1998

20. CONSISTENT EXPECTATIONS EQUILIBRIA
    Macroeconomic Dynamics, 1998, 2, (03), 287-321 View citations
    See also Working Paper (1997)
21. Heterogeneous beliefs and routes to chaos in a simple asset pricing model
    Journal of Economic Dynamics and Control, 1998, 22, (8-9), 1235-1274 View citations
    See also Working Paper (1996)
22. On the consistency of backward-looking expectations: The case of the cobweb
    Journal of Economic Behavior & Organization, 1998, 33, (3-4), 333-362 View citations
23. Stability and complex dynamics in a discrete tatonnement model
    Journal of Economic Behavior & Organization, 1998, 33, (3-4), 395-410 View citations

1997

24. A Rational Route to Randomness
    Econometrica, 1997, 65, (5), 1059-1096 View citations
    See also Working Paper (1996)
25. Chaotic consumption patterns in a simple2-D addiction model
    Economic Theory, 1997, 10, (1), 147-173 View citations

1996

26. Partial equilibrium analysis in a noisy chaotic market
    Economics Letters, 1996, 53, (3), 275-282 View citations

1995

27. A reconsideration of Hicks' non-linear trade cycle model
    Structural Change and Economic Dynamics, 1995, 6, (4), 435-459 View citations
28. Cycles and chaos in a socialist economy
    Journal of Economic Dynamics and Control, 1995, 19, (1-2), 155-179 View citations

1994

29. Dynamics of the cobweb model with adaptive expectations and nonlinear supply and demand
    Journal of Economic Behavior & Organization, 1994, 24, (3), 315-335 View citations

1993

30. Periodic, almost periodic and chaotic behaviour in Hicks' non-linear trade cycle model
    Economics Letters, 1993, 41, (4), 391-397 View citations

1991

31. Adaptive learning and roads to chaos: The case of the cobweb
    Economics Letters, 1991, 36, (2), 127-132 View citations
32. “Period three to period two” bifurcation for piecewise linear models
    Journal of Economics, 1991, 54, (2), 157-169

1990

33. Resolution of chaos with application to a modified Samuelson model
    Journal of Economic Dynamics and Control, 1990, 14, (1), 1-19 View citations

1989

34. Does an Unstable Keynesian Unemployment Equilibrium in a Non-Walrasian Dynamic Macroeconomic Model Imply Chaos?
    Scandinavian Journal of Economics, 1989, 91, (1), 161-67 View citations

Chapters

2006

1. Heterogeneous Agent Models in Economics and Finance
   Chapter 23 in Handbook of Computational Economics, 2006, vol. 2, pp 1109-1186 View citations
   See also Working Paper (2005)

Editor

1. Journal of Economic Dynamics and Control
   Elsevier