Skip to main content Accessibility help
×
  1. Home
  2. Books
  3. Individual Forecasting and Aggregate Outcomes
  • Cited by 18
      • Show more authors
      • You may already have access via personal or institutional login
    • Select format
    • Publisher:
      Cambridge University Press
      Publication date:
      05 June 2012
      27 January 1984
      ISBN:
      9780511625763
      9780521310956
      DOI:
      https://doi.org/10.1017/CBO9780511625763
      Dimensions:
      Weight & Pages:
      Dimensions:
      (228 x 152 mm)
      Weight & Pages:
      0.352kg, 250 Pages
      • Subjects:
      Economics, Macroeconomics, Economic Theory
    You may already have access via personal or institutional login
    • Selected: Digital
    Add to cart View cart Buy from Cambridge.org
    Subjects:
    Economics, Macroeconomics, Economic Theory
    Information

    Book 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.

    Reviews

    ‘I recommend the book to economists interested in rational expectations for their own reading and for required reading in the graduate courses they teach.’

    Source: Journal of Economic Literature

    ‘After reading this excellent, stimulating book the uncommitted reader may well feel that there are several logical or methodological problems which imply that the usual class of models which embodies the rational expectations hypothesis is unattractive as a basis for some form of economic analysis, in particular, macroeconomic policy design … I suspect that the concept of model theoretic expectations will generate useful insights in the modelling of expectations in a number of areas such as asset markets or arbitrage process. It naturally leads to a consideration of expectations generated as some weighted average of different models. I greatly enjoyed this book and can strongly recommend it.’

    Source: The Economic Journal

    Refine List

    Actions for selected content:

    Select all | Deselect all
    • View selected items
    • Export citations
    • Download PDF (zip)
    • Save to Kindle
    • Save to Dropbox
    • Save to Google Drive

    Save Search

    You can save your searches here and later view and run them again in "My saved searches".

    Please provide a title, maximum of 40 characters.
    Cancel
    ×

    Contents

    Contents

    Metrics

    Altmetric attention score

    Full text views

    Total number of HTML views: 0
    Total number of PDF views: 0 *
    Loading metrics...

    Book summary page views

    Total views: 0 *
    Loading metrics...

    * Views captured on Cambridge Core between #date#. This data will be updated every 24 hours.

    Usage data cannot currently be displayed.

    Accessibility standard: Unknown

    Why this information is here

    This section outlines the accessibility features of this content - including support for screen readers, full keyboard navigation and high-contrast display options. This may not be relevant for you.

    Accessibility Information

    Accessibility compliance for the PDF of this book is currently unknown and may be updated in the future.