This paper argues that expectations are an important element that needs to be included into the analysis of the effects …

In this paper we test the Rational Expectations hypothesis using longitudinal data on expectations and realizations of …' experiment through which to study the rationality of expectations. Our results show that East Germans significantly over … and those with children. However, expectations and realizations of life satisfaction in East Germany had converged by 1995 …

This paper studies aggregate dynamics in a cobweb model where learning takes place through a selection mechanism, by … limits mutational drift in firm types; on the other hand, selection may strengthen cobweb oscillatory dynamics. Second, there … explain the key results. Optimal selectivity is larger, the less "cobweb unstable" the economy, i.e. the more elastic the …

This paper studies aggregate dynamics in a cobweb model where learning takes place through a selection mechanism, by … limits mutational drift in firm types; on the other hand, selection may strengthen cobweb oscillatory dynamics. Second, there … explain the key results. Optimal selectivity is larger, the less "cobweb unstable" the economy, i.e. the more elastic the …

deterministic endogenous fluctuations. However, we find that union's bargaining power can dramatically influence the local stability …

Wage expectations are important determinants for individual schooling decisions. However, research on individual … expectations of students is scarce. The paper presents the Swiss results of a survey that was conducted in 10 European countries …. Its main findings are that point estimates of wages after graduation are close to actual wages, whereas the expectations …

This paper is dedicated to the empirical exploration of the welfare effect of expectations and progress per se. Using …

candidate is expectations: what people expect could affect how they feel about what actually occurs. In a real-effort experiment …, we manipulate the rational expectations of subjects and check whether this manipulation influences their effort provision …-based reference-dependent preferences: if expectations are high, subjects work longer and earn more money than if expectations are low. …