Interactive expectations

In modeling expectation formation, economic agents are usually viewed as forming expectations adaptively or in accordance with some rationality postulate. We offer an alternative nonlinear model where agents exchange their opinions and information with each other. Such a model yields multiple equilibria, or attracting distributions, that are persistent but subject to sudden large jumps. Using German Federal Statistical Office economic indicators and German IFO Poll expectational data, we show that this kind of model performs well in simulation experiments. Focusing upon producers' expectations in the consumption goods sector, we also discover evidence that structural change in the interactive process occurred over the period of investigation (1970-1998). Specifically, interactions in expectation formation seem to have become less important over time.

Magnetic polarization currents in double quantum dot devices

We investigate coherent electron transport through a parallel circuit of two quantum dots (QDs), each of which has a single tunable. energy level. Electrons tunnelling via each dot from the left lead interfere with each other at the right lead. It is shown that due to the quantum interference of tunnelling electrons the double QD device is magnetically polarized by coherent circulation of electrons on the closed path through the dots and the leads. By varying the energy level of each dot one can make the magnetic states of the device be up-, non- or down-polarized. It is shown that for experimentally accessible temperatures and applied biases the magnetic polarization currents Should be sufficiently large to observe with current nanotechnology.