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Book Synopsis Informational Smallness in Rational Expectations Equilibria by : Aviad Heifetz
Download or read book Informational Smallness in Rational Expectations Equilibria written by Aviad Heifetz and published by . This book was released on 1996 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Information Smallness in Rational Expectations Equilibria by : Avaid Heifetz
Download or read book Information Smallness in Rational Expectations Equilibria written by Avaid Heifetz and published by . This book was released on 1996 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Informational Smallness in Rational Expectations Equilibria by : Aviad Heifetz
Download or read book Informational Smallness in Rational Expectations Equilibria written by Aviad Heifetz and published by . This book was released on 1997 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Rational Expectations Equilibrium in a Market with Restricted Access to Differential Information by : Belinda Ann Brewer Gillette
Download or read book Rational Expectations Equilibrium in a Market with Restricted Access to Differential Information written by Belinda Ann Brewer Gillette and published by . This book was released on 1991 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Efficiency Properties of Rational Expectations Equilibria with Asymmetric Information by : Piero Gottardi
Download or read book Efficiency Properties of Rational Expectations Equilibria with Asymmetric Information written by Piero Gottardi and published by . This book was released on 2001 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Informational Smallness in Rational Expectations Eqilibria by : Aviad Heifetz
Download or read book Informational Smallness in Rational Expectations Eqilibria written by Aviad Heifetz and published by . This book was released on 1997 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Rational Expectations Equilibrium, Cost of Information and Welfare by : Chang-Ho Yoon
Download or read book Rational Expectations Equilibrium, Cost of Information and Welfare written by Chang-Ho Yoon and published by . This book was released on 1978 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Non-uniqueness of Rational Expectations Equilibria by : Torben M. Andersen
Download or read book Non-uniqueness of Rational Expectations Equilibria written by Torben M. Andersen and published by . This book was released on 1988 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:
A theoretical assessment of the Rational Expectations Hypothesis through subjecting a collection of economic models to an "eductive stability" test. 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 endogenous fluctuations. This second volume emphasizes "eductive" learning: relying on careful reasoning, agents must deduce what other agents guess, a process that differs from the standard evolutionary learning experience in which agents make decisions about the future based on past experiences. A broad "eductive" stability test is proposed that includes common knowledge and results in a unique "rationalizable expectations equilibrium." This test provides the basis for Guesnerie's theoretical assessment of the plausibility of the REH's expectational coordination, emphasizing, for different categories of economic models, conditions for the REH's success or failure. Guesnerie begins by presenting the concepts and methods of the eductive stability analysis in selected partial equilibrium models. He then explores to what extent general equilibrium strategic complementarities interfere with partial equilibrium considerations in the formation of stable expectations. Guesnerie next examines two issues relating to eductive stability in financial market models, speculation and asymmetric price information. The dynamic settings of an infinite horizon model are then taken up, and particular standard and generalized saddle-path solutions are scrutinized. Guesnerie concludes with a review of general questions and some "cautious" remarks on the policy implications of his analysis.
Book Synopsis Assessing Rational Expectations 2 by : Roger Guesnerie
Download or read book Assessing Rational Expectations 2 written by Roger Guesnerie and published by MIT Press. This book was released on 2005-02-18 with total page 498 pages. Available in PDF, EPUB and Kindle. Book excerpt: A theoretical assessment of the Rational Expectations Hypothesis through subjecting a collection of economic models to an "eductive stability" test. 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 endogenous fluctuations. This second volume emphasizes "eductive" learning: relying on careful reasoning, agents must deduce what other agents guess, a process that differs from the standard evolutionary learning experience in which agents make decisions about the future based on past experiences. A broad "eductive" stability test is proposed that includes common knowledge and results in a unique "rationalizable expectations equilibrium." This test provides the basis for Guesnerie's theoretical assessment of the plausibility of the REH's expectational coordination, emphasizing, for different categories of economic models, conditions for the REH's success or failure. Guesnerie begins by presenting the concepts and methods of the eductive stability analysis in selected partial equilibrium models. He then explores to what extent general equilibrium strategic complementarities interfere with partial equilibrium considerations in the formation of stable expectations. Guesnerie next examines two issues relating to eductive stability in financial market models, speculation and asymmetric price information. The dynamic settings of an infinite horizon model are then taken up, and particular standard and generalized saddle-path solutions are scrutinized. Guesnerie concludes with a review of general questions and some "cautious" remarks on the policy implications of his analysis.
Book Synopsis Rational Expectations Equilibria in Sequence Economies with Symmetric Information by : Martin F. Hellwig
Download or read book Rational Expectations Equilibria in Sequence Economies with Symmetric Information written by Martin F. Hellwig and published by . This book was released on 1991 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: