behavioral learning equilibria as a plausible explanation of coordination of individual expectations and aggregate phenomena such …. The simplicity of behavioral learning equilibria makes coordination of individual expectations on such an aggregate …

Biased longevity expectations will lead to suboptimal decisions regarding saving, retirement, annuitization and health …, with consequences for wellbeing in old age. Systematic differences in the accuracy of longevity expectations may partly … veracity of expectations are due to the less educated and cognitively able responding less to changes in objective mortality …

In this paper we consider regression models with forecast feedback. Agents' expectations are formed via the recursive …

Expectations (RE) models have two crucial dimensions: 1) agents correctly forecast future prices given all available information …, and 2) given expectations, agents solve optimization problems and these solutions in turn determine actual price … performance is the best in treatment 1) and worst in the treatment 3). Most forecasters use a n adaptive expectations rule …

expectations about their loan default probability. Agents select among heterogeneous expectation rules, based upon their relative … expectations amplify boom and bust cycles and how endogenous coordination on pessimistic expectations amplifies crises and slows … down recovery. Taking heterogeneous expectations and bounded rationality into account is crucial for the timing of monetary …

heterogeneous expectations and a noisy rational expectations asset pricing model with heterogeneous information signals. In each …

macroeconomic literature stresses the importance of managing heterogeneous expectations in the formulation of monetary policy. We … agents have heterogeneous expectations and update their beliefs based on past performance as in Brock and Hommes (1997). The … rational expectations equilibrium as multiple equilibria may persist, even when a fully rational, but costly, expectations rule …

Rational expectations assumes perfect, model consistency between beliefs and market realizations. Here we discuss … behaviorally rational expectations, characterized by an observable, parsimonious and intuitive form of consistency between beliefs …-order autocorrelations. Secondly, an asset pricing model with heterogeneous expectations and agents switching between a mean …