This paper shows a possible modeling strategy of agents' expectation formation in the agent-based models (ABM). After a brief survey about the introduction of expectation in macroeconomics the work discusses the use of the CEE-SAC learning scheme suggested in Hommes (2013)

Agents forming adaptive expectations generally make systematic mistakes. This characterization has fostered the rejection of adaptive expectations in macroeconomics. Experimental evidence, however, shows that in complex environments human subjects frequently rely on adaptive heuristics –...

Agents forming adaptive expectations generally make systematic mistakes. This characterization has fostered the rejection of adaptive expectations in macroeconomics. Experimental evidence, however, shows that in complex environments human subjects frequently rely on adaptive heuristics –...