Individual Forecasting and Aggregate Outcomes
Language: English
Published by Cambridge University Press, 1987
- Softcover
- New
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- Title
- Individual Forecasting and Aggregate Outcomes
- Author
- Oman Frydman R. Phelps E. Frydman Roman
- Publisher
- Cambridge University Press
- Publication year
- 1987
- Condition
- New
- Binding
- Soft cover
- Language
- English
- ISBN 10
- 0521310954
- ISBN 13
- 9780521310956
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.
"Synopsis" may belong to another edition of this title.
Book Description
Based on a conference on Expectations Formation and Economic Disequilibrium, this set of papers provides a complex view of market processes and sheds new light on the rational expectations hypothesis.
"About the title" may belong to another edition of this title.
Biblios
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