Temporary equililibrium dynamics with learning: The stability of random walk beliefs

Temporary equililibrium dynamics with learning: The stability of random walk beliefs

This paper examines the stability of deterministic steady-states with a one dimensional state-variable and a smooth, recursive updating rule. It is shown that the only possibly stable steady states are those associated with random walk beliefs, provided there is motion on a center manifold, which is...

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書目詳細資料
主要作者:	CHATTERJI, Shurojit
格式:	text
語言:	English
出版:	Institutional Knowledge at Singapore Management University 1996
主題:	learning stability random walk Econometrics
在線閱讀:	https://ink.library.smu.edu.sg/soe_research/2113 https://ink.library.smu.edu.sg/context/soe_research/article/3113/viewcontent/wpasad_1996_02__1_.pdf
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機構:	Singapore Management University
語言:	English

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