{"product_id":"learning-in-economic-systems-with-expectations-feedback-9783540243229","title":"Learning in Economic Systems with Expectations Feedback","description":"\u003cp\u003e • Author(s): Jan Wenzelburger\u003cbr\u003e • Publisher: Springer\u003cbr\u003e • Publisher Imprint: Springer\u003cbr\u003e • BISAC: Economics - Macroeconomics\u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003eRecently economists have more and more focussed on scenarios in which agents' views of the world may be erroneous.\u003c\/p\u003e \u003cp\u003eThese notes introduce the concept of perfect forecasting rules which provide best least-squares predictions along the evolution of an economic system.\u003c\/p\u003e \u003cp\u003eThe framework for nonparametric adaptive learning schemes is developed and it is argued that plausible learning schemes should aim at estimating a perfect forecasting rule taking into account the correct feedback structure of an economy.\u003c\/p\u003e \u003cp\u003eA link is provided between the traditional rational-expectations view and recent behavioristic approaches.\u003c\/p\u003e","brand":"Springer","offers":[{"title":"Paperback","offer_id":45280857391255,"sku":"9783540243229","price":3639.0,"currency_code":"INR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0666\/3471\/1191\/files\/9783540243229.webp?v=1769297512","url":"https:\/\/atlanticbooks.com\/products\/learning-in-economic-systems-with-expectations-feedback-9783540243229","provider":"Atlantic Books","version":"1.0","type":"link"}