Adaptive versus eductive learning: Theory and evidence

• Main Authors: Bao, Te, Duffy, John
• Other Authors: School of Humanities and Social Sciences
• Format: Article
• Language: English
• Published: 2017
• Subjects: Rational expectations; Adaptive learning
• Online Access: https://hdl.handle.net/10356/83453; http://hdl.handle.net/10220/42625
• Institution: Nanyang Technological University

Adaptive and eductive learning are two widely used ways of modeling the process by which agents learn a rational expectation equilibrium (REE). In this paper we report an experiment where we exploit differences in the conditions under which adaptive and eductive learning converge to REE so as to inv...