The view that adaptive learning and asymmetric information are crucial to understanding recent monetary history is apparently shared by the developers of the Federal Reserve's primary econometric model, the FRBUS model, which relies heavily on these assumptions (Brayton et al., 1997).
Simulations of that model suggest both that adaptive learning is needed to explain the observed responses of the financial market and the economy to monetary policy actions, and that asymmetric information and adaptive learning lead systematically to inferior macroeconomic outcomes, as implied by the work of Orphanides and Williams and others.