Arbeitspapier
From self-fulfilling mistakes to behavioral learning equilibria
This essay links some of my own work on expectations, learning and bounded rationality to the inspiring ideas of Jean-Michel Grandmont. In particular, my work on consistent expectations and behavioral learning equilibria may be seen as formalizations of JMG's ideas of self-fulfilling mistakes. Some of our learning-to-forecast laboratory experiments with human subjects have also been strongly influenced by JMG's ideas. Key features of self-fulfilling mistakes are multiple equilibria, excess volatility and persistence amplification.
- Sprache
-
Englisch
- Erschienen in
-
Series: Tinbergen Institute Discussion Paper ; No. 17-018/II
- Klassifikation
-
Wirtschaft
Expectations; Speculations
Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
Business Fluctuations; Cycles
Design of Experiments: Laboratory, Group Behavior
- Thema
-
expectations
learning
bounded rationality
chaos
almost self-fulfilling equilibria
laboratory experiments
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Hommes, Cars
- Ereignis
-
Veröffentlichung
- (wer)
-
Tinbergen Institute
- (wo)
-
Amsterdam and Rotterdam
- (wann)
-
2017
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Hommes, Cars
- Tinbergen Institute
Entstanden
- 2017
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