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

DOI10.1111/j.1468-0262.2008.00836.xzbMath1133.91331OpenAlexW3124936342MaRDI QIDQ5456470

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

bounded rationalitysticky pricesstrategic complementsmoney illusionanchoringnominal rigiditystrategic substitues

Mathematics Subject Classification ID

Rationality and learning in game theory (91A26)

Related Items (14)

Expectation formation and regime switches ⋮ Individual expectations, limited rationality and aggregate outcomes ⋮ Price stickiness and markup variations in market games ⋮ Limited rationality and the strategic environment: further theory and experimental evidence ⋮ The heterogeneous expectations hypothesis: Some evidence from the lab ⋮ Framing and repeated competition ⋮ 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 ⋮ Monetary policy and heterogeneous expectations ⋮ Price stability and volatility in markets with positive and negative expectations feedback: an experimental investigation ⋮ Guessing with negative feedback: an experiment ⋮ When speculators meet suppliers: positive versus negative feedback in experimental housing markets

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