agents form their expectations through a learning process

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agents form their expectations through a learning process

Postby alexanderm » Mon May 27, 2013 7:53 pm

The description of Dynare inludes this saying

"Dynare is also able to handle models where expectations are formed differently: on one extreme, models where agents perfectly anticipate the future; on the other extreme, models where agents have limited rationality or imperfect knowledge of the state of the economy and, hence, form their expectations through a learning process."

How can i solve models where agents form their expectations through a learning process?
I haven't found any example in the User Guide.I need your answer urgent as I am trying to implement a model under this hypothesis.

Thanks in advance!
alexanderm
 
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Re: agents form their expectations through a learning proces

Postby jpfeifer » Wed May 29, 2013 3:05 pm

------------
Johannes Pfeifer
University of Cologne
https://sites.google.com/site/pfeiferecon/
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Location: Cologne, Germany


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