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Concept
Adaptive Expectations
Summary
Adaptive expectations
refer to the
economic theory
where individuals form their expectations about the
future based on past experiences
and gradually update them as
new information
becomes available. This approach assumes that people adjust their predictions of
future variables
slowly and often with a lag, as they rely heavily on
historical data
rather than
anticipating structural changes
.
Relevant Degrees
History of Economic Thought 60%
Probability and Statistics 30%
Economic Theory and Concepts 10%
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