The Major Criticism of the View That Expectations Are Formed

question 31

Multiple Choice

The major criticism of the view that expectations are formed adaptively is that

• A)this view ignores that people use more information than just past data to form their expectations.
• B)it is easier to model adaptive expectations than it is to model rational expectations.
• C)adaptive expectations models have no predictive power.
• D)people are irrational and therefore never learn from past mistakes.

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Definitions:

Schemes

Mental representations or frameworks that organize and interpret information in cognitive development.

Object Permanence

The understanding that objects continue to exist even when they cannot be seen, heard, or touched, a developmental milestone in children.

Tertiary Circular Reactions

Tertiary circular reactions, a concept from Piaget's stages of development, refer to the experimental and repetitive actions of infants aged 12 to 18 months to explore the properties of objects.

Secondary Circular Reactions

The repetition of actions that produce an effect on the environment.