Affiliation:
1. Wilfrid Laurier University Waterloo Ontario Canada
2. Carleton University Ottawa Ontario Canada
Abstract
AbstractExpectations matter in dynamic models where decisions in one period have implications for outcomes in subsequent periods. Rational expectations were once the dominant assumption but its popularity is waning. Human decision‐making deviates from rationality suggesting important influences of perceptions and beliefs on decision‐making. The articles in this special issue provide up‐to‐date reviews of the importance of expectations, beliefs, and perceptions including the role of social media in shaping them.
Subject
Economics and Econometrics