Heterogeneous learning dynamics and speed of convergence
نویسنده
چکیده
In a simple, forward looking linear stochastic model we investigate the impact of heterogeneity in expectations formation on the speed of convergence of the learning process of agents towards equilibrium. We nd that even when heterogeneity does not a¤ect learnability in term of its asymptotic outcome, it can still have an important impact on the learnability of an equilibrium in terms of the speed of convergence of learning dynamics.
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