Adaptive Expectations Coordination in an Economy with Heterogeneous Agents

G. Negroni

DELTA Working Papers from DELTA (Ecole normale supérieure)

Abstract: In this paper we study expectations coordination on the stationary state in a one dimensional economy. We allow for two sources of heterogeneity : the first concerns the fundamentals of the economy, the second the adaptive learning rules. Specifically we consider heterogeneous adaptive learning within a class of constant gain learning algorithm, where the parameter of gain differ across agents. We show that these two sources of heterogeneity create difficulty to coordination.

Keywords: EXPECTATIONS; LEARNING; ECONOMICS (search for similar items in EconPapers)
JEL-codes: I29 J24 (search for similar items in EconPapers)
Pages: 36 pages
Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:del:abcdef:2000-16

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