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Assessing rational expectations 2 : "eductive" stability in economics

Author: R Guesnerie
Publisher: Cambridge, Mass. : MIT Press, ©2005.
Edition/Format:   Print book : EnglishView all editions and formats
Summary:
"The rational expectations hypothesis (REH) dominates economic modeling in areas ranging from monetary theory, macroeconomics, and general equilibrium to finance. In this book Roger Guesnerie continues the critical analysis of the REH begun in his Assessing Rational Expectations: Sunspot Multiplicity and Economic Fluctuations, which dealt with the questions raised by multiplicity and its implications for a theory of
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Document Type: Book
All Authors / Contributors: R Guesnerie
ISBN: 0262072580 9780262072588
OCLC Number: 56198617
Description: xxviii, 455 pages : illustrations ; 24 cm
Contents: 1. An exploration of the eductive justifications of the rational-expectations hypothesis --
2. Rationalizability, strong rationality, and expectational stability / Roger Guesnerie and George W. Evans --
3. Anchoring economic predictions in common knowledge --
4. Short-run expectational coordination : fixed versus flexible wages --
5. On the robustness of the analysis of expectational coordination : from 3 to n + 2 goods --
6. Eductive stability in sequential exchange economies : an introduction / Roger Guesnerie and Hector Calvo Pardo --
7. (De)stabilizing speculation on futures markets : an alternative viewpoint / Roger Guesnerie and Jean-Charles Rochet.
Other Titles: Assessing rational expectations two
Responsibility: Roger Guesnerie.

Abstract:

A theoretical assessment of the Rational Expectations Hypothesis through subjecting a collection of economic models to an "eductive stability" test.  Read more...

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"Roger Guesnerie has made a truly seminal contribution to the modeling of 'eductive' learning, which is based on reasoning from all available knowledge and information. This book collects his key Read more...

 
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