"Adaptive and eductive learning are two widely used ways of modeling the process by which agents learn a rational expectation equilibrium (REE). In this paper we report on an experiment where we exploit differences in the conditions under which adaptive and eductive learning converge to REE so as to investigate which approach provides the better description of the learning behavior of human subjects."
Interesting with obvious relevance to macroeconomics.
From:
John Duffy
University of Californis Irvine
Te Bao
University of Gronigen
Interesting with obvious relevance to macroeconomics.
From:
John Duffy
University of Californis Irvine
Te Bao
University of Gronigen