The Pareto domination of irrational expectations over rational expectations

DOI10.1016/0022-0531(88)90134-2zbMath0661.90013OpenAlexW2089016836MaRDI QIDQ1113786

Michael Teit Nielsen

Publication date: 1988

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/0022-0531(88)90134-2

zbMATH Keywords

rational expectationoverlapping generations economyefficient allocationsequence of temporary economic equilibria

Mathematics Subject Classification ID

Economic growth models (91B62) General equilibrium theory (91B50)

Related Items

Incomplete markets and the suboptimality of rational expectations ⋮ HOMEOSTATIC VERSUS ACTIVE POLICIES IN A NONLINEAR OPTIMAL CONTROL PROBLEM

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