Title of article :
Stochastic gradient learning in the cobweb model
Author/Authors :
George W. Evans، نويسنده , , S. Honkapohja، نويسنده ,
Issue Information :
روزنامه با شماره پیاپی سال 1998
Abstract :
We consider the effects of replacing least squares learning by stochastic gradient learning in the multivariate ‘cobwebʹ model. Are the stability conditions altered? For this model, we show global convergence of stochastic gradient learning to the unique rational expectations equilibrium provided the E-stability condition is satisfied. This is identical to the stability condition governing convergence under least squares learning.
Keywords :
stability , Bounded rationality , adaptive learning
Journal title :
Economics Letters
Journal title :
Economics Letters