Individual Forecasting and Aggregate Outcomes : 'Rational Expectations' Examined

Name: Individual Forecasting and Aggregate Outcomes
Brand: Cambridge University Press
SKU: 9780521257442
Price: 6750 KES
Availability: OutOfStock
ISBN: 9780521257442

Book Details

Format Hardback

ISBN-10 0521257441

ISBN-13 9780521257442

Publisher Cambridge University Press

Imprint Cambridge University Press

Country of Manufacture US

Country of Publication GB

Publication Date Jan 27th, 1984

Print length 256 Pages

Weight 51 grams

Product Classification: Economic theory & philosophy

KSh 6,750.00

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The papers in this volume provide a complex view of market processes.

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.

Get Individual Forecasting and Aggregate Outcomes by Edmund S. Phelps at the best price and quality guaranteed only at Werezi Africa's largest book ecommerce store. The book was published by Cambridge University Press and it has 256 pages.