How do households adjust their spending behavior in response to changes in home price expectations? We conduct a field … experiment with a sample of Americans that links survey data on home price expectations to actual spending behaviour as measured … in a rich home-scanner dataset. In the experiment we exogenously vary households' home price expectations by providing …

We study the effect of communicating student-specific teacher expectations on academic performance. We randomize … whether students (a) receive high-performance expectations, (b) are additionally paired with a classmate for encouragement, (c …) receive information about past performance, or (d) receive no message. Expectations increase math scores by 0.19σ, with …

, while they are in line with recent models that focus on anger as the result of the frustration of expectations. …

, while they are in line with recent models that focus on anger as the result of the frustration of expectations. …

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 …

We use novel survey data to estimate how personal experiences affect household expectations about aggregate economic … systematically extrapolate from recent locally experienced home prices when asked for their expectations about US house price changes … distribution over expected future national house price movements. We find similar results for labor market expectations, where we …

We study the emergence of bubbles in a laboratory experiment with large groups of individuals. The realized price is … the aggregation of the forecasts of a group of individuals, with positive expectations feedback through speculative demand … findings are: (i) large asset bubbles occur in large groups, (ii) information contagion through news affects behaviour and may …

, recurring bubbles arise, where the price is 3 times larger than the fundamental value, which were not seen in former experiments …

, recurring bubbles arise, where the price is 3 times larger than the fundamental value, which were not seen in former experiments. …