Individual Forecasting and Aggregate Outcomes: 'Rational Expectations' Examined - Frydman R Oman - Books - Cambridge University Press - 9780521310956 - October 2, 1986
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Frydman R Oman
Individual Forecasting and Aggregate Outcomes: 'Rational Expectations' Examined

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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.

256 pages, d.tabs.

Media Books     Paperback Book   (Book with soft cover and glued back)
Released October 2, 1986
ISBN13 9780521310956
Publishers Cambridge University Press
Pages 250
Dimensions 156 × 224 × 12 mm   ·   344 g
Language English  
Editor Frydman, Roman
Editor Phelps, Edmund S.

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