Stochastic gradient learning in the cobweb model

Economics Letters

Volumn 61, Issue 3, 1998, Pages 333-337

  Evans, George W ^a   Honkapohja, S ^b  

^a UNIVERSITY OF HELSINKI   (Finland)

^b NONE

Author keywords

Adaptive learning; Bounded rationality; D83; E10; Stability

Indexed keywords

EID: 0032350904     PISSN: 01651765     EISSN: None     Source Type: Journal    
DOI: 10.1016/s0165-1765(98)00176-1     Document Type: Article

References (13)

1. Barucci E., Landi L. Least mean squares learning in self-referential stochastic models. Economics Letters. 57:1997;313-317.
2. Bray M., Savin N. Rational expectations equilibria, learning, and model specification. Econometrica. 54:1986;1129-1160.
3. Evans, G.W., Honkapohja, S., 1995. Adaptive learning and expectational stability: An introduction. In: Kirman, A., Salmon, P. (Eds.), Learning and Rationality in Economics, Basil Blackwell, Oxford, 1995, Chap. 4, pp. 102-126.
4. Evans G.W., Honkapohja S. Economic dynamics with learning: New stability results. Review of Economic Studies. 65:1998;23-44.
5. Guesnerie R. An exploration of the eductive justifications of the rational-expectations hypothesis. American Economic Review. 82:1992;1254-1278.
6. Heinemann, M., 1997. Convergence of adaptive learning and expectational stability: The case of multiple rational expectations equilibria, Working Paper.
7. Kirman, A., Salmon, P. (Eds.), 1995. Learning and Rationality in Economics, Basil Blackwell, Oxford.
8. Kuan C.-M., White H. Adaptive learning with nonlinear dynamics driven by dependent processes. Econometrica. 62:1994;1087-1114.
9. Ljung L. Analysis of recursive stochastic algorithms. IEEE Trans. and Automatic Control. 22:1977;551-575.
10. Ljung, L., Söderström, T., 1983. Theory and Practice of Recursive Identification, MIT Press, Cambridge, MA.
11. Magnus, J., Neudecker, H., 1988. Matrix Differential Calculus, Wiley, New York.
12. Marcet A., Sargent T.J. Convergence of least-squares learning mechanisms in self-referential linear stochastic models. Journal of Economic Theory. 48:1989;337-368.
13. Sargent, T.J., 1993. Bounded Rationality in Macroeconomics, Oxford University Press, Oxford.