Adaptive versus eductive learning: Theory and evidence
نویسندگان
چکیده
منابع مشابه
Expectations in Macroeconomics: Adaptive versus Eductive Learning1
Rational expectations solutions to macroeconomic models are equilibria requiring the coordination of expectations, and one can investigate the local stability of these solutions under alternative learning rules. Eductive (mental) approaches to learning have somewhat stricter stability conditions than do adaptive (statistical) approaches, as we illustrate using three economic models. The expecta...
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ژورنال
عنوان ژورنال: European Economic Review
سال: 2016
ISSN: 0014-2921
DOI: 10.1016/j.euroecorev.2015.12.007