During the “learning period” their behavior does not always turn out to be compatible with that of agents with rational expectations. In other words, economic system players should learn while interacting, which results in a variety of behaviors not always provided for in standard models.
In turn, and focusing on the policymaker’s task, many papers (such as Levin and Williams, 2003) have shown the significant challenges faced by analysis under uncertainty. They have thus highlighted that the best policies in certain contexts may perform badly in different conditions.