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 …

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 …

example, we discuss a behavioral asset pricing model with heterogeneous expectations. Bubble and crash dynamics is triggered …, showing that in positive feedback systems individuals coordinate expectations on non-rational, almost self …

, including temporary bubbles, sudden market crashes, price resistance and price switching between different levels. …