NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Inflation Expectations, Learning and Supermarket Prices

Alberto Cavallo, Guillermo Cruces, Ricardo Perez-Truglia

NBER Working Paper No. 20576
Issued in October 2014, Revised in June 2016

---- Acknowledgments ----

Previously circulated as "Inflation Expectations, Learning and Supermarket Prices: Evidence from Field Experiments." We would like to thank Robert Barro, Raj Chetty and David Laibson for their valuable input at the early stages of the project. We also thank useful comments from Alberto Alesina, Nageeb Ali, Rüdiger Bachmann, Christian Borgs, Sebastian Di Tella, Emmanuel Farhi, Matthew Gentzkow, N. Gregory Mankiw, Markus Mobius, Andrés Neumeyer, Roberto Rigobon, Tanya Rosenblat, Guido Sandleris, Tavneet Suri, Martin Tetaz, Glen Weyl, Fernando Yu, and participants in the seminars at Harvard University, MIT Sloan, Microsoft Research New England, Universidad de San Andres, Universidad Torcuato Di Tella, the Chicago-NYU International Macro Finance Conference, the 2016 AEA Meetings, the 6th Ifo Conference on Macroeconomics and Survey Data, and the NY Federal Reserve Subjective Expectations Conference. Julián Amendolaggine and Nicolás Badaracco did excellent work as research assistants. We would also like to thank Tomás Pessacq and Carolina Yellati for their collaboration in conducting the experiments, and MIT Sloan and CEDLAS-UNLP for their funding. This project was reviewed and approved by the Committee on the Use of Humans as Experimental Subjects at MIT. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

---- Disclosure of Financial Relationships for Alberto Cavallo ----

Alberto Cavallo has an ownership stake in PriceStats LLC, a private company that uses scraped online data to compute inflation indices.

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