uncertainty and to smooth consumption across time : it also enables learning information. Conversely, defaulting now becomes … strategic : certain players may manipulate prices so as to provoke a default in order to prevent their opponents from learning …. We focus on learning equilibria, at the end of which no player has incorrect beliefs -- not because those players with …

stability under learning whenever agents try to estimate both the law of motion of the state variable and the stationary state …

dynamics, and its local stability in dynamics arising from econometric learning procedures. Attention is focused on linear … in the perfect foresight dynamics on the levels of the state variable, and its stability under learning. The paper … stability under learning provided that a simple sign condition is satisfied. …