uncertainty and liquidity constraints. I present conditions for the existence of an optimal linear consumption rule and …I study how boundedly rational agents can learn the solution to an infinite horizon optimal consumption problem under … consumption theory …

I study how boundedly rational agents can learn a "good" solution to an infinite horizon optimal consumption problem … under uncertainty and liquidity constraints. Using an empirically plausible theory of learning I propose a class of adaptive … learning algorithms that agents might use to choose a consumption rule. I show that the algorithm always has a globally …