Least squares learning with heterogeneous expectations

Economics Letters

Volumn 53, Issue 2, 1996, Pages 197-201

  Evans, George W ^a   Honkapohja, Seppo ^b  

^a UNIVERSITY OF OREGON   (United States)

^b UNIVERSITY OF HELSINKI   (Finland)

Author keywords

Adaptive learning; Bounded rationality; Stability

Indexed keywords

EID: 0030273868     PISSN: 01651765     EISSN: None     Source Type: Journal    
DOI: 10.1016/S0165-1765(96)00903-2     Document Type: Article

References (10)

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3. Evans, G.W. and S. Honkapohja, 1995, Adaptive learning and expectational stability: An introduction, in: A. Kirman and M. Salmon, eds., Learning and rationality in economics (Basil Blackwell, Oxford) 102-126.
4. Evans, G.W. and S. Honkapohja, 1996, Economic dynamics with learning: New stability results, mimeo.
5. Evans, G.W., S. Honkapohja and R. Marimon, 1995, Convergence in monetary inflation models with heterogeneous learning rules, mimeo.
6. Guesnerie, R., 1992, An exploration of the eductive justifications of the rational expectations hypothesis, American Economic Review 82, 1254-1278.
7. Horn, R.A. and C.R. Johnson, 1991, Topics in matrix analysis (Cambridge University Press, Cambridge).
8. Marcet, A. and T.J. Sargent, 1989a, Convergence of least squares learning mechanisms in self-referential linear stochastic models, Journal of Economic Theory 48, 337-368.
9. Marcet, A. and T.J. Sargent, 1989b, Convergence of least-squares learning in environments with hidden state variables and private information, Journal of Political Economy 97, 1306-1322.
10. Soerensen, J.P., 1995, An overlapping generations model where agents have different expectations, mimeo, University of Edinburgh.