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Individual Forecasting and Aggregate Outcomes: 'Rational Expectations' Examined

Frydman, Roman; Phelps, Edmund S.

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ISBN 10: 0521310954 / ISBN 13: 9780521310956
Verlag: Cambridge University Press, Cambridge, 1986
Gebraucht Zustand: Good Softcover
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Paperback in good condition. Light edge wear, scores and creases on covers, slightly affecting pages. Previous owner's stamp on FEP. Penned triangle on title page. Text is clear throughout. HCW. Buchnummer des Verkäufers 170913

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Bibliografische Details

Titel: Individual Forecasting and Aggregate ...

Verlag: Cambridge University Press, Cambridge

Erscheinungsdatum: 1986

Einband: paperback

Zustand:Good

Zustand des Schutzumschlags: No Dust Jacket

Art des Buches: Used

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Inhaltsangabe:

Growing out of a conference on Expectations Formation and Economic Disequilibrium held in New York City in 1981, the papers in this volume provide a complex view of market processes in which individual rationality is no guarantee of convergence to the 'correct' model and the equilibrium coordination of agents' plans. They reject the 'optimality' argument for the rational expectations hypothesis, opening the door to other hypotheses of optimal expectations of agents in the decentralized market economy.

Inhaltsangabe:

Growing out of a conference on Expectations Formation and Economic Disequilibrium held in New York C....

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