are rare. Thus, even in a world of simple learning agents, coordination behavior can take on some surprising forms. …

suggests a trade-off of using coarser versus finer representations of the strategy set when it comes to learning. …

suggests a trade-off of using coarser versus finer representations of the strategy set when it comes to learning. …

This chapter provides a survey of the recent work on learning in the context of macroeconomics. Learning has several … roles. First, it provides a boundedly rational model of how rational expectations can be achieved. Secondly, learning acts … as a selection device in models with multiple REE (rational expectations equilibria). Third, the learning dynamics …