Analogy-Based Expectation Equilibrium and Related Concepts:Theory, Applications, and Beyond

Philippe Jehiel ()

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Abstract: A unified definition of analogy-based expectation equilibrium (ABEE) for strategic environments involving multiple stages and private information is presented. Various alternative interpretations of the concept are proposed as well as a discussion of how to use ABEE in practice. A variety of applications including two new ones related to speculative trading and personnel economics is reviewed. A discussion of a number of alternative equilibrium concepts follows emphasizing the links and differences with ABEE. Finally, a discussion of possible next steps in particular related to the endogeneization of analogy partitions is proposed.

Keywords: Analogy-Based Expectation; Bounded rationality; Limited learning (search for similar items in EconPapers)
Date: 2022-07
New Economics Papers: this item is included in nep-gth
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Working Paper: Analogy-Based Expectation Equilibrium and Related Concepts:Theory, Applications, and Beyond (2022)
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