Results 1 to 10 of about 596,831 (304)
Political cycles: Beyond rational expectations. [PDF]
PLoS ONE, 2018 MOTIVATION AND METHOD:Existing rational expectations models cannot satisfactorily explain why political budget manipulations systematically raise re-election chances and only occur in "specific contexts".
Frank Bohn
doaj +2 more sources
Grade Expectations: Rationality and Overconfidence [PDF]
Frontiers in Psychology, 2018 Confidence and overconfidence are essential aspects of human nature, but measuring (over)confidence is not easy. Our approach is to consider students' forecasts of their exam grades.
Jan R. Magnus +2 more
doaj +7 more sources
Rational expectations and near rational alternatives: How best to form expectations [PDF]
SSRN Electronic Journal, 2001 Learning rules are increasingly being used in macroeconomic models. However one criticism that has been levelled at this assumption is that the choice of variables for inclusion in the learning rule, and the actual specification of the learning rule ...
Beeby, Mike +2 more
core +4 more sources
A new perspective to rational expectations: maximin rational expectations equilibrium [PDF]
, 2010 We introduce a new notion of rational expectations equilibrium (REE) called maximin rational expectations equilibrium (MREE), which is based on the maximin expected utility (MEU) formulation.
Marialaura Pesce +2 more
core +3 more sources
Dropping rational expectations [PDF]
Mathematical Social Sciences, 2022 The authors consider a two-period pure-exchange economy, where uncertainty prevails and agents, possibly asymmetrically informed, exchange commodities and securities of all kinds. Consumers' characteristics, anticipations, beliefs and actions are all private and typically not known nor assessed by the other agents. In the paper is defined a notion of ``
openaire +5 more sources
Rationalizing rational expectations: Characterizations and tests
Quantitative Economics, 2021 In this paper, we build a new test of rational expectations based on the marginal distributions of realizations and subjective beliefs. This test is widely applicable, including in the common situation where realizations and beliefs are observed in two different data sets that cannot be matched.
D'Haultfoeuille, Xavier +2 more
openaire +6 more sources
Assumptions, Applications and Implications of Modern Economic Analysis in Comprehending Neo-Classical Economics [PDF]
Social Science Chronicle, 2022 This research paper delves into the foundational principles, assumptions, applications, and limitations of neoclassical economics, presenting a comprehensive exploration of its significance in economic analysis, policy formulation, and the understanding ...
Nicole Dubois
doaj +1 more source
The dual role of equilibrium price in competitive economies with asymmetric information [PDF]
Ekonomski Anali, 2008 This paper analyses equilibrium in competitive markets with asymmetrically informed agents. In contrast to Walrasian equilibrium, where equilibrium price is only an indicator of relative scarcity, in the models studied in this paper equilibrium price has
Trifunović Dejan
doaj +1 more source
Rational speculative bubbles: A critical view [PDF]
Ekonomski Anali, 2007 According to the theory of rational bubbles, the bubble is present whenever asset prices progressively diverge from their fundamental value, which occurs because agents expect that asset prices will continue to grow exponentially (self-fulfilling ...
Radonjić Ognjen
doaj +1 more source
Looking Backward and Looking Forward
Econometrics, 2019 Filtering has had a profound impact as a device of perceiving information and deriving agent expectations in dynamic economic models. For an abstract economic system, this paper shows that the foundation of applying the filtering method corresponds to ...
Zhengyuan Gao, Christian M. Hafner
doaj +1 more source