Learning with bounded memory in stochast
β
Seppo Honkapohja; Kaushik Mitra
π
Article
π
2003
π
Elsevier Science
π
English
β 206 KB
Learning with bounded memory in stochastic frameworks is incomplete in the sense that the learning dynamics cannot converge to a rational expectations equilibrium (REE). The properties of dynamics arising from such rules are studied for standard models with steady states. If the REE in linear models