Since the classic work of Feyerabend and Kuhn, the role of social factors in the scientific enterprise has been a major concern in the philosophy and history of science. In particular, the presence of social factors such as the desire for prestige or pressures to conform to accepted ideas, have...

We introduce the concept of Adaptively Rational Equilibrium (A.R.E.) where agents base decisions upon predictions of future values of endogenous variables whose actual values are determined by equilibration. Predictors are chosen from a finite set. Each predictor is a function of past...

This paper describes a range of methods which have been proposed to study interactions in economic and social contexts. By interactionsk, we refer to interdependences between individual decisions which are not mediated by markets. These types of models have been employed to understand phenonmena...

This paper provides an analysis of aggregate behavioral outcomes when individual utility exhibits social interaction effects. We study generalized logistic models of individual choice which incorporate terms reflecting the desire of individuals to conform to the behavior of others in an...

We investigate an overlapping generations monetary economy in which agents' expectations depend upon backward looking predictors of the future price level. We use discrete choice theory to model how agents select a predictor based on its past forecast error. Letting the number of available...