Learning and coordination (24/03)
1. Basics
2. Cascades, Herds and Delays
3.Coordination of expectations
- Morris, Stephen and Hyun Song Shin (2001). "Global Games: Theory and Applications."
- Slides 4
4.Exercises
- Problem Set 1
- Nyarko, Y (1991). " Learning in Mis-specified Models and the Possibility of Cycles," Journal of Economic Theory, 55, 416-427.
5. Coordination with payoff complementarities
- Veldkamp, Laura (2005}. "Slow Boom, Sudden Crash," Journal of Economic Theory, 124, 230-257.
- Fajgelbaum, Pablo, Edouard Schaal and Mathieur Taschereau-Dumouchel (2017). "Uncertainty Traps," Quarterly Journal of Economics, 132(4), 1641-1692.
- Chamley, Christophe (1999). "Coordinating Regime Switches," Quarterly Journal of Economics, 114(3), 869-905. Illustration (simulation of the model)
- Note on endogenous uncertainty
-
Shiller, Robert J.. (2017). "Narrative Economics," American economic Review, 107(4), 967-1004.