The Bounds on What we are Likely to Learn by Considering Boundedly Rational Learning
Mark Thoma and Simon Wren-Lewis both responded to a complaint about the rational expectations assumption by noting that they had colleagues who study boundedly rational learning. I see a third alternative -- giving up.
more here
As before, if Mark Thoma links here I send you off to www.angrybearblog.com
Bragging rights reserved
OK I haven't slept in a while (a long while) and my brain isn't working so good. So the thought occured to me that someone might want to write up this idea and send a manuscript to a journal (don't laugh it's happened). This would be a very bad idea for two reasons. First it has almost certainly been written before (I don't keep up with the literature). Second my manuscripts are rejected with alarming regularity. But if you insist, I note that this post is real public and ask two things.
1) Be nice and put my name on the manuscript (don't laugh it's happened)
2) Send it to me at robert.waldmann@gmail.com give me 1 week to reply.
I will reply
a) please take my name off that manuscript.
b) Please leave my name on that manuscript and send it to some journal as is.
or
c) Please leave my name on that manuscript. You have complete editorial control but I suggest the following revisions.
1 comment:
If you don't keep up with the literature, don't post on that topic. The learning literature is difficult, but it has had notable successes, such as the analysis of interest rate rule. See Woodford's book. Either do some work, or go back to bed.
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