Different theories of expectation formation and learning usually yield different outcomes for realized market prices in … dynamic models. The purpose of this paper is to investigate expectation formation and learning in a controlled experimental … from individual expectations. Subjects have no information about underlying market equilibrium equations, but can learn by …

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 … JMG's ideas of self-fulfilling mistakes. Some of our learning-to-forecast laboratory experiments with human subjects have …

interest rates, inflation and inflation expectations. Average-inflation targeting can approximate the price path observed under … policy rule. In particular, if the central bank considers more than two lags, subjects fail to form expectations that are … target helps somewhat anchor longrun inflation expectations. …

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 …

nothing) or the highest level of punishment (destroyeverything). (4) Expectations have a significant effect on the …

investment and investment in energy saving technologies,using subjective evaluations of expectations and uncertainty of Dutch …

-report measures were related to destruction decisions and expectations. The pattern of emotional arousal and its correlation with self …

expectations. We provide ample anecdotal, historical, and heuristic information on the goodness-of-fit of the various exchange rate …

whether therelated expectations and realizations match each other. We use theDutch Social Economic Panel survey data, where … expectations aboutthe next year's financial situation are reported. We show that realizedchanges exceed expectations, and that this … distribution of expectations andrealizations, suggest that individuals around retirement are overly pes-simistic and attach more …