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acessibilidade

http://hdl.handle.net/10071/14979
acessibilidade
Title: Local learning dynamics
Authors: Gomes, O.
Issue Date: 2008
Publisher: Economics Bulletin
Abstract: The paper undertakes a detailed characterization of the local dynamic properties of three simple deterministic models involving expectations. The expectations are formed under an adaptive learning process. Allowing for different degrees of learning quality, the analysis reveals the existence of a large variety of possible long term outcomes: in some scenarios, stability and instability are independent of the learning quality; in other circumstances, some minimal requirement on learning efficiency is necessary to attain stability; in some settings, it is even possible that high quality learning may prevent attaining the stable outcome that otherwise is accomplished.
Peer reviewed: yes
URI: https://ciencia.iscte-iul.pt/id/ci-pub-22733
http://hdl.handle.net/10071/14979
ISSN: 1545-2921
Appears in Collections:BRU-RI - Artigos em revistas científicas internacionais com arbitragem científica

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