Please use this identifier to cite or link to this item: https://doi.org/10.48548/pubdata-1276
Full metadata record
FieldValue
Resource typeWorking Paper
Title(s)E-stability and stability of adaptive learning in models of asymetric information
DOI10.48548/pubdata-1276
Handle20.500.14123/1339
CreatorHeinemann, Maik
AbstractThe paper demonstrates how the E–stability principle introduced by Evans and Honkapohja can be applied to models with heterogeneous and private information in order to assess the stability of rational expectations equilibria under learning. The paper extends already known stability results for the Grossman and Stiglitz model to a more general case with many differentially informed agents and to the case where information is endogenously acquired by optimizing agents. In both cases it turns out that the rational expectations equilibrium of the model is inherently E-stable and thus locally stable under recursive least squares learning.
LanguageEnglish
KeywordsLearning; Eductive Stability; Rational Expectations; Lernen; Erwartung; Stabilität
DDC330 :: Wirtschaft
Year of publication in PubData2007
Publishing typeFirst publication
Publication versionPublished version
Date issued2007-12-21
Creation contextResearch
Faculty / departmentFrühere Fachbereiche
Series title and numberWorking paper series in economics
69
Alternative Idenfier(s)urn:nbn:de:gbv:luen4-opus4-5355
Date of Availability2024-08-23T07:46:42Z
Archiving Facility Medien- und Informationszentrum (Leuphana Universität Lüneburg  02w2y2t16)
Published byMedien- und Informationszentrum, Leuphana Universität Lüneburg
  Related Resources
Files in This Item:
File SizeFormat 

wp_69_Upload.pdf
MD5: c01fe96e5c826732edf0cd86ebd5ecc1
License:  Nutzung nach Urheberrecht
open-access

808.75 kB

Adobe PDF
View/Open

Items in PubData are protected by copyright, with all rights reserved, unless otherwise indicated.

Citation formats
Access statistics

Page view(s): 26

Download(s): 2