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Learning and the Saddle Point Property

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  • Stéphane Gauthier

    (CREST-INSEE - Centre de Recherche en Economie et en Statistique - ENSAI - Ecole Nationale de la Statistique et de l'Analyse de l'Information [Bruz] - Groupe ENSAE-ENSAI - Groupe des Écoles Nationales d'Économie et Statistique - ENSAE Paris - École Nationale de la Statistique et de l'Administration Économique - Groupe ENSAE-ENSAI - Groupe des Écoles Nationales d'Économie et Statistique - IP Paris - Institut Polytechnique de Paris - INSEE - Institut national de la statistique et des études économiques (INSEE), ERMES - Equipe de recherche sur les marches, l'emploi et la simulation - UP2 - Université Panthéon-Assas - CNRS - Centre National de la Recherche Scientifique)

Abstract

This note shows that there are close connections between the determinacy of a stationary state equilibrium and its stability under learning whenever agents try to estimate both the law of motion of the state variable and the stationary state value.

Suggested Citation

  • Stéphane Gauthier, 2001. "Learning and the Saddle Point Property," Post-Print hal-00731163, HAL.
    • Handle: RePEc:hal:journl:hal-00731163
    DOI: 10.1016/S0165-1765(01)00501-8
    Note: View the original document on HAL open archive server: https://hal.science/hal-00731163v1
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