Economic Dynamics with Learning: New Stability Results
نویسندگان
چکیده
منابع مشابه
Some Stability Results for Markovian Economic Semigroups
The paper studies existence, uniqueness and stability of stationary equilibrium distributions in a class of stochastic dynamic models common to economic analysis. We provide applications to a heterogeneous agent model and two nonlinear multisector time series models with unbounded state space.
متن کاملLearning Dynamics in Economic Games
When playing games human decision behaviour is often found to be diverse. For instance, in repeated prisoner dilemma games humans exhibit broad distributions of cooperativity and on average do not optimize their mean payoff. Deviations from optimal behaviour have been attributed to auxiliary causes including randomness of decisions, mis-estimations of probabilities, accessory objectives, or emo...
متن کاملStability Results in Learning Theory
The problem of proving generalization bounds for the performance of learning algorithms can be formulated as a problem of bounding the bias and variance of estimators of the expected error. We show how various stability assumptions can be employed for this purpose. We provide a necessary and sufficient stability condition for bounding the bias and variance for the Empirical Risk Minimization al...
متن کاملA new approach on studying the stability of evolutionary game dynamics for financial systems
Financial market modeling and prediction is a difficult problem and drastic changes of the price causes nonlinear dynamic that makes the price prediction one of the most challenging tasks for economists. Since markets always have been interesting for traders, many traders with various beliefs are highly active in a market. The competition among two agents of traders, namely trend follo...
متن کاملUncertainty, Learning and Ambiguity in Economic Models on Climate Policy: Some Classical Results and New Directions
We present how uncertainty and learning are classically studied in economic models. Specifically, we study a standard expected utility model with two sequential decisions, and consider two particular cases of this model to illustrate how uncertainty and learning may affect climate policy. While uncertainty has generally a negative effect on welfare, learning has always a positive, and thus oppo...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Review of Economic Studies
سال: 1998
ISSN: 0034-6527,1467-937X
DOI: 10.1111/1467-937x.00034