the very idea of "rationality" are derived entities. Which of the primitive tale is chosen bears far-reaching consequences … away from rationality-cum-equilibrium interpretations and of focusing on the varying balances between self …

We analyze the individual and macroeconomic impacts of heterogeneous expectations and action rules within an agent …, we find that neither individual nor macroeconomic dynamics improve when agents replace myopic expectations with less na …̈ive learning rules. In fact, more sophisticated, e.g. recursive least squares (RLS) expectations produce less accurate …

We analyze the individual and macroeconomic impacts of heterogeneous expectations and action rules within an agent …, we find that neither individual nor macroeconomic dynamics improve when agents replace myopic expectations with less … naïve learning rules. In fact, more sophisticated, e.g. recursive least squares (RLS) expectations produce less accurate …