Titlebook: Learning to Become Rational; The Case of Self-Ref Markus Zenner Book 1996 Springer-Verlag Berlin Heidelberg 1996 Stochastische Modelle.Theo

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Introduction,rs have to decide today which amount of a good they will produce not knowing what demand will be tomorrow. Consumers have to decide what they spend for consumption today not knowing what prices will prevail tomorrow. Adopting the neo-classical point of view that economic agents are `rational’ in the

冬眠

Univariate AR(1) Models, model in which the univariate endogenous variable depends only on its one period lagged value, the predictions of agents, and a disturbance term. Since this model exhibits a very simple structure (the estimates of agents as well as the endogenous variables are real valued) it is a suitable platform

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Univariate Non-Stationary Models,stricted to the case that at least the exogenous variables entering the model are stationary and ergodic processes. Apart from questions of mathematical convenience this point of view is based on the idea that learning, as a repeated trial-and-error mechanism, requires a stable, or stationary, envir

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Multivariate ARX Models,riables is described simultaneously by a set of equations. Here and in the following chapter we consider such multivariate, or simultaneous equations, models and analyze whether agents, following an appropriate learning procedure, can eventually learn the parameters of a REE. Since our analysis is b

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