Expectations in Macroeconomics: Adaptive versus Eductive Learning1

Abstract

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… (More)

Topics

Cite this paper

@inproceedings{Evans2000ExpectationsIM, title={Expectations in Macroeconomics: Adaptive versus Eductive Learning1}, author={George W. Evans}, year={2000} }