Collaborative Research on Rational Expectations and LearningAn Experimental Analysis

这项研究的主要目的是检验学习对市场中理性预期均衡的影响。这项工作的大部分背景是实验市场，这使得清楚地区分市场理论和人们在那个环境中的行为成为可能。将进行一系列实验，以区分不同的学习模式。实验将被设置为研究贝叶斯学习、回归学习和使用启发式学习规则学习。产生数据的实验市场是一个封闭式投标市场，供应商决定产量，模拟需求者。这项研究很重要，因为学习理论是当前经济理论中许多问题的核心。此外，本研究将为理性预期的形成提供更深层次的理解。

The major purpose of this research is to examine the implications of learning for rational-expectations equilibria in markets. The setting for much of this work, experimental markets, makes it possible to clearly distinguish between the theory of the market and people's behavior in that environment. A series of experiments will be run to discriminate among different models of learning. The experiments will be set up to investigate Bayesian learning, regression learning, and learning with heuristic learning rules. The experimental market in which the data are generated is a sealed-bid market with suppliers who determine output and simulated demanders. This research is important because learning theories are central to many current issues in economic theory. in addition, this research will provide a deeper understanding about the formation of rational expectations.