Adaptive Expectations Coordination in an Economy with Heterogeneous Agents.

In this paper we study expectations coordination on the stationary state in a one dimensional economy. We allow for two sources of heterogeneity : the first concerns the fundamentals of the economy, the second the adaptive learning rules. Specifically we consider heterogeneous adaptive learning within a class of constant gain learning algorithm, where the parameter of gain differ across agents. We show that these two sources of heterogeneity create difficulty to coordination.

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Year of publication:	2000
Authors:	Negroni, G.
Institutions:	Département et Laboratoire d'Économie Théorique Appliquée (DELTA), École Normale Supérieure (ENS Paris)
Subject:	EXPECTATIONS \| LEARNING \| ECONOMICS

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Series:	DELTA Working Papers.
Type of publication:	Book / Working Paper
Notes:	36 pages
Classification:	I29 - Education. Other ; J24 - Human Capital; Skills; Occupational Choice; Labor Productivity
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005811886