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 …

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 …

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 …

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 …