Systematic failure of expectations

What is fundamentally relevant to answer in praxeology is not how agents form expectations but why expectations can fail systematically.

Since a systematic failure praxeologically analyzable can only occur with respect to the value of money and the interest, an expectations theory is only of avail in monetary theory and in theory of capital.

While a systematic failure of expectations on, say, choice of technology or industry be only viewed as a psychologic or otherwise statistic affair but not liable to praxeologic analysis, this failure is can't be a part of praxeology. By the way, historically people have learnt to avoid this kind of non praxeologic failure of expectations, so these failures tend to be more and more shortlived and innocuous.

The problem with systematic failure of expectations on money value and interest is precisely that the phenomenon is such that experience isn't enough guarantee of protection in the presence of governmental intervention.