estimation of the parameters in an auxiliary model. The learning scheme employed by the agents belongs to the class of stochastic …

We propose behavioral learning equilibria as a plausible explanation of coordination of individual expectations and … the economy. The simplicity of behavioral learning equilibria makes coordination of individual expectations on such an … aggregate outcome more likely. In a first application, an asset pricing model with AR(1) dividends, a unique behavioral learning …

consider a simple real business cycle model with noisy learning by doing. The solution has a stationary distribution that …

consider a simple real business cycle model with noisy learning by doing. The solution has a stationary distribution that …