expectations in the sense that any other expectations justifying his choices imply a smaller likelihood for the history he observes … with limited memory, then there are rationally formed expectations equilibria exhibiting an excess volatility that no … rational expectations equilibrium can match. Given that the limited records or finite memory case may arguably be the relevant …

include assumptions on expectations and preferences. We aim at reducing some of these requirements by using direct subjective … information on respondents’ preferences and expectations. The results suggest that individually measured welfare functions and … expectations have predictive power for the variation in consumption across households. Furthermore, estimates of the intertemporal …

The way in which individual expectations shape aggregate macroeconomic variables is crucial for the transmission and … effectiveness of monetary policy. We study the individual expectations formation process and the interaction with monetary policy … heterogeneous expectations model with a performance-based evolutionary selection among heterogeneous forecasting heuristics to the …

Notwithstanding the recognized importance of traders' expectations in characterizing the observed market dynamics, for … the emergence and coordination of expectations in a pure exchange framework. We largely base our study on previous …

candidate is expectations: what people expect could affect how they feel about what actually occurs. In a real-effort experiment …, we manipulate the rational expectations of subjects and check whether this manipulation influences their effort provision …-based reference-dependent preferences: if expectations are high, subjects work longer and earn more money than if expectations are low. …