rationality behaviour by people. Quite recent developments in the Economics of Knowledge, i.e. the so-called learning models, have …

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 …

dynamics considerably differ between gain and loss domains. For gains, learning to be comparably ambiguity averse increases the …

, simple payoff-based learning rules eventually lead to equilibrium. Such rules have previously been documented for some forms … laboratory setting and finds strong confirmation for key features of payoff-based learning that distinguish it from classical …

learning transfers to new games. Current theories of learning model learning as adjustment in behavior in response to feedback … about outcomes and payoffs and largely ignore the possibility that learning may take place in the absence of such feedback … feedback between plays of the game. However, this previous work demonstrates this "no-feedback" learning using a special game …

dynamics considerably differ between gain and loss domains. For gains, learning to be comparably ambiguity averse increases the …