This paper studies aggregate dynamics in a cobweb model where learning takes place through a selection mechanism, by … in a way that favors the most profitable firm types. Selection may be inadequate because firms are being selected on the … basis of incorrect market signals. Selection itself may reinforce such mispricing, thus generating instability. I compare …

This paper studies aggregate dynamics in a cobweb model where learning takes place through a selection mechanism, by … in a way that favors the most profitable firm types. Selection may be inadequate because firms are being selected on the … basis of incorrect market signals. Selection itself may reinforce such mispricing, thus generating instability. I compare …

This paper studies aggregate dynamics in a cobweb model where learning takes place through a selection mecanism, by … in a way that favors the most profitable firm types. Selection may be inadequate because firms are being selected on the … basis of incorrect market signals. Selection itself may reinforce such mispricing, thus generating instability. I compare …

This paper studies aggregate dynamics in a cobweb model where learning takes place through a selection mechanism, by … in a way that favors the most profitable firm types. Selection may be inadequate because firms are being selected on the … basis of incorrect market signals. Selection itself may reinforce such mispricing, thus generating instability.I compare …

We characterize efficient allocations and business cycle fluctuations in a labor selection model. Due to forward … from selection effects, rather than general equilibrium effects. We also develop sufficient conditions on wages, which are … selection models …