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 …

This essay links some of my own work on expectations, learning and bounded rationality to the inspiring ideas of Jean …-Michel Grandmont. In particular, my work on consistent expectations and behavioral learning equilibria may be seen as formalizations of …

, recurring bubbles arise, where the price is 3 times larger than the fundamental value, which were not seen in former experiments. …

We experimentally investigate how price expectations are formed in a large asset market where subjects' only task is to … forecast the future price of a risky asset. The realized prices depend on these expectations. We observe small (6 participants …". We observe both stable markets and large bubbles for both small and large markets. The data analysis shows no differences …

The recent macroeconomic literature stresses the importance of managing heterogeneous expectations in the formulation … interest rate rules when agents have heterogeneous expectations and update their beliefs based on past performance as in Brock … converge to the rational expectations equilibrium as multiple equilibria may persist, even when a fully rational, but costly …

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

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

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