Individual Forecasting and Aggregate Outcomes
Cambridge University Press

Individual Forecasting and Aggregate Outcomes

Subjects: Economics, Economic theory & philosophy
ISBN13: 9780521310956
Published: 02 Oct 1986

Format - Paperback / softback
By Frydman, Roman

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A$82.90
A$82.90 A$85.46
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Individual Forecasting and Aggregate Outcomes

A$82.90
A$82.90 A$85.46
Product description

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.

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