?url_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Adc&rft.relation=https%3A%2F%2Fpure.iiasa.ac.at%2Fid%2Feprint%2F4139%2F&rft.title=Convergence+Rates+of+Agents'+Learning+in+Macroeconomic+Models&rft.creator=Johansson%2C+K.H.&rft.description=This+paper+discusses+agents'+learning+on+a+market.+The+price+level+evolves+through+a+multivariable+autoregressive+model%2C+which+the+agents+learn+in+a+least-squares+sense.+A+theorem+is+stated+that+shows+how+the+agents'+learning+might+be+divided+into+two+classes+with+respect+to+the+learning+convergence+rate.+The+results+are+exemplified+by+the+well-known+hyperinflation+model.+Further%2C+for+the+hyperinflation+model+some+interesting+features+concerning+the+%22coupling%22+between+the+price+and+the+learning+dynamics+are+discussed.+An+explicit+expression+is+derived+for+how+the+rate+of+the+agents'+learning+depends+upon+this+coupling.&rft.publisher=WP-94-072&rft.date=1994-08&rft.type=Monograph&rft.type=NonPeerReviewed&rft.format=text&rft.language=en&rft.identifier=https%3A%2F%2Fpure.iiasa.ac.at%2Fid%2Feprint%2F4139%2F1%2FWP-94-072.pdf&rft.identifier=++Johansson%2C+K.H.++(1994).++Convergence+Rates+of+Agents'+Learning+in+Macroeconomic+Models.+++IIASA+Working+Paper.+IIASA%2C+Laxenburg%2C+Austria%3A+WP-94-072+++++