This chapter provides a survey of the recent work on learning in the context of macroeconomics. Learning has several … roles. First, it provides a boundedly rational model of how rational expectations can be achieved. Secondly, learning acts … as a selection device in models with multiple REE (rational expectations equilibria). Third, the learning dynamics …

estimation of the parameters in an auxiliary model. The learning scheme employed by the agents belongs to the class of stochastic …

macroeconomic models in which agents are boundedly rational and use an adaptive learning rule to form expectations of the endogenous … estimate it empirically. Two prominent learning algorithms are considered, namely constant gain and decreasing gain learning …. For each of the two learning rules, the analysis proceeds in two stages. First, the paper derives the asymptotic …

The paper investigates social-learning when the information structure is not commonly known. Individuals repeatedly … interact in social-learning settings with distinct information structures. In each round of interaction, they use their … behavior in the long-run if and only if individuals distinguish social-learning settings and receive rich feedback after each …

Bateson. Learning requires to recognize a series of situations as identical and then to observe the effect of given variables … hypothesis to be continuously tested. This vision of bounds and learning has many implications for the debate on rationality and …

possible convergence of adaptive learning processes. Results obtained using recursive least squares lead to the conjecture that … model and an alternative learning procedure that such a conjecture would be incorrect: there exist learning procedures that …

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

feature of the model is that learning operates in both the demand for assets and the supply of credit. Interactions between … propagation. In contrast, the paper shows why learning involving only one side on the market, which has been the focus of most of …