Financial Fragility and Scaling Distributions in the Laboratory

Giovanna Devetag, Edoardo Gaffeo, Mauro Gallegati and Gianfranco Giulioni
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Giovanna Devetag: University of Trento
Gianfranco Giulioni: DMQTE University of Chieti-Pescara

A chapter in The Complex Networks of Economic Interactions, 2006, pp 61-76 from Springer

Abstract: Summary We present results from human and computer-based experiments aimed at exploring the role of rationality and financial markets in explaining the emergence of some well-known stylized facts regarding industrial and aggregate dynamics. We find that the information conveyed by financial markets helps agents adopt more rational decision processes. Rationality, in turn, is necessary to observe smooth aggregate behaviors.

Keywords: Interest Rate; Capital Stock; Credit Market; Equity Ratio; Aggregate Output (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:spr:lnechp:978-3-540-28727-8_4

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DOI: 10.1007/3-540-28727-2_4

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