Difference between revisions of "Adaptive expectations"
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==Definition== | ==Definition== | ||
According to [[Principles of Economics by Timothy Taylor (3rd edition)]], | According to [[Principles of Economics by Timothy Taylor (3rd edition)]], | ||
| − | :[[Adaptive | + | :[[Adaptive expectations]]. The theory that people look at past experience and gradually adapt their beliefs and behavior as circumstances change. |
[[Category: Economics]][[Category: Articles]] | [[Category: Economics]][[Category: Articles]] | ||
Revision as of 23:27, 30 May 2020
Adaptive expectations is the theory that people look at past experience and gradually adapt their beliefs and behavior as circumstances change.
Definition
According to Principles of Economics by Timothy Taylor (3rd edition),
- Adaptive expectations. The theory that people look at past experience and gradually adapt their beliefs and behavior as circumstances change.
