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Cambridge University Press Individual Forecasting and Aggregate Outcomes: 'Rational Expectations' Examined

Name: Individual Forecasting and Aggregate Outcomes: 'Rational Expectations' Examined
Brand: Cambridge University Press
Price: 37.2 GBP
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Business & Economic History

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Description

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.

Product Specifications

Brand: Cambridge University Press
Format: paperback
ASIN: 0521310954
Category: Books > Subjects > Business, Finance & Law > Biographies & Histories > Business & Economic History
Domain: Amazon UK
Release Date: 12 August 2010
Listed Since: 02 January 2007

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Cambridge University Press Individual Forecasting and Aggregate Outcomes: 'Rational Expectations' Examined

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