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 …

-monotonic relationship in the learning-to-forecast experiments and this non-monotonicity persists in the learning-to-optimize design. Third …, convergence in the learning-to-optimize experiment is more challenging to achieve: coordination on the two-cycle is never observed …

We discuss recent work on bounded rationality and learning in relation to Soros' principle of reflexivity and stress … trend-following rule, based upon their relative performance. We also discuss learning-to-forecast laboratory experiments …