Search Results - subject:"Least Squares Learning"

Coexistence of stable equilibria under least squares learning

Kopányi, Dávid - 2015

This paper illustrates that least squares learning may lead to suboptimal outcomes even when the estimated function … that face different transportation costs. Firms do not know the demand structure and they apply least squares learning to … not been found in the literature on least squares learning before. Both the Nash equilibrium and the asymmetric learning …

Persistent link: https://www.econbiz.de/10011444283

Coexistence of stable equilibria under least squares learning

Kopányi, Dávid - 2015

Persistent link: https://www.econbiz.de/10010530640

Indeterminacy and Learning: An Analysis of Monetary Policy in the Great Inflation

Lubik, Thomas A.; Matthes, Christian - Crawford School of Public Policy, Australian National … - 2014

We argue in this paper that the Great Inflation of the 1970s can be understood as the result of equilibrium indeterminacy in which loose monetary policy engendered excess volatility in macroeconomic aggregates and prices. We show, however, that the Federal Reserve inadvertently pursued policies...

Persistent link: https://www.econbiz.de/10010904252

Indeterminacy and Learning: An Analysis of Monetary Policy in the Great Inflation

Lubik, Thomas A.; Matthes, Christian - Federal Reserve Bank of Richmond - 2014

Persistent link: https://www.econbiz.de/10010758364

Indeterminacy and learning : an analysis of monetary policy in the great inflation

Lubik, Thomas A.; Matthes, Christian - 2014

Persistent link: https://www.econbiz.de/10010244587

Indeterminacy and learning : an analysis of monetary policy in the great inflation

Lubik, Thomas A.; Matthes, Christian - 2014

Persistent link: https://www.econbiz.de/10010251607

Learning Cycles in Bertrand Competition with Differentiated Commodities and Competing Learning Rules

Anufriev, Mikhail; Kopányiz, Dávid; Tuinstra, Jan - Economics Discipline Group, Business School - 2013

This paper stresses the importance of heterogeneity in learning rules. We introduce an evolutionary competition between different learning rules and demonstrate that, though these rules can coexist, their convergence properties are strongly affected by heterogeneity. We consider a Bertrand...

Persistent link: https://www.econbiz.de/10010752837