Limited Rationality and Strategic Interaction: The Impact of the Strategic Environment on Nominal Inertia

DOI10.1111/J.1468-0262.2008.00836.XMaRDI QIDQ5456470zbMATH OpenOpenAlexFDO

Authors Jean-Robert Tyran, Ernst Fehr

Publication date 8 April 2008

Published in Econometrica (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1111/j.1468-0262.2008.00836.x

zbMATH Keywords

sticky pricesbounded rationalitystrategic complementsmoney illusionanchoringnominal rigiditystrategic substitues

Mathematics Subject Classification ID

Rationality and learning in game theory (91A26)

Recommendations

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Cited in

(16)

• Framing and repeated competition
• `What is important is seldom urgent and what is urgent is seldom important': a study of the strategic implications of the urgency effect in a competitive setting
• Expectation formation and regime switches
• When speculators meet suppliers: positive versus negative feedback in experimental housing markets
• Money illusion and coordination failure
• Individual expectations, limited rationality and aggregate outcomes
• Monetary policy and heterogeneous expectations
• The heterogeneous expectations hypothesis: Some evidence from the lab
• Price stickiness and markup variations in market games
• Limited rationality and the strategic environment: further theory and experimental evidence
• The strategic environment effect in beauty contest games
• The New Keynesian Phillips curve with myopic agents
• On the role of heuristics -- experimental evidence on inflation dynamics
• Experimental evidence on inflation expectation formation
• Price stability and volatility in markets with positive and negative expectations feedback: an experimental investigation
• Guessing with negative feedback: an experiment

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Uses Software

• Z-Tree

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