Autore
Marimon, Ramon

Titolo
Learning from learning in economics
Periodico
European University Institute of Badia Fiesolana (Fi). Department of Economics - Working papers
Anno: 1996 - Fascicolo: 12 - Pagina iniziale: 1 - Pagina finale: 39

In this paper I summarize some of the recent literature on learning in games and macroeconomic models. I emphasize adaptive learning: the current efforts to attain a behavioral foundation for a broad class of adaptive learning rules; the alternative definitions of weaker —subjective— equilibrium notions needed to characterize the asymptotic outcome of learning processes; the selection of equilibria when learning rules satisfy certain properties (e.g., experimentation or perturbations); the ability of learning models to explain observed economic phenomena which are not properly accounted for by existing equilibrium theories (in particular, financial and macroeconomic data), and, the possibility of using learning models as normative models to help the design of economic policies and of political and economic institutions.



Testo completo: http://hdl.handle.net/1814/583

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