Partners

The Universiteit van Amsterdam is one of the largest universities in Europe. In 1998, Cars Hommes obtained a prestigious Pionieer-grant from the Netherlands Organization of Scientific Research (NWO) to start the Centre for Nonlinear Dynamics in Economics and Finance (CeNDEF), which rapidly became a leading international research centre on nonlinear dynamics, evolutionary dynamics, behavioral economics and finance. In particular the centre has specialized in theoretical understanding and empirical and experimental testing of heterogeneous expectations. CeNDEF researchers all have interdisciplinary scientific backgrounds, combining expertise in mathematics, physics, economics and computer science. The group has a remarkable international reputation in experimental economics.

Main tasks in the project:

UvA will carry out laboratory and internet experiments with human paid subjects in order to study their decisions, behavioural patterns and expectations in complex macro-economic and financial nonlinear feedback systems. This will lead to the creation of a model of expectation formation and bounded rationality that will be at the basis of the two (financial and macroeconomic) agent based models.

UvA will also collaborate with CITY in the creation of the financial ABM starting from the harmonization and unification of previous ABMs.