real networks. A second aim is to introduce the adaptive interactive expectations (AIE) model, which uses a ‘pressure to … change profit expectations index’ to replace the utility curve maximising agent concept. The AIE model has an interactive … expectations network, which is difficult to determine, so suitable to illustrate network averaging. The AIE model is tested against …

In modeling expectation formation, economic agents are usually viewed as forming expectations adaptively or in … accordance with some rationality postulate. We offer an alternative nonlinear model where agents exchange their opinions and …, we show that this kind of model performs well in simulation experiments. Focusing upon producers' expectations in the …

Models of rational choice use different definitions of rationality. However, there is no clear description of the … latter. We recognize rationality as a conceptual conglomerate where reason, judgment, deliberation, relativity, behavior …, experience, and pragmatism interact. Using our definition, the game theoretic idealized principle of rationality becomes absolute …