Rational expectations and the Markov property of temporary equilibrium processes

DOI10.1016/0304-4068(82)90023-4zbMath0471.90025OpenAlexW2058961508MaRDI QIDQ1158077

Martin F. Hellwig

Publication date: 1982

Published in: Journal of Mathematical Economics (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/0304-4068(82)90023-4

zbMATH Keywords

Markov processrational expectationssequence economysequence of selectionstemporary equilibrium correspondencesunique rational expectations equilibrium process

Mathematics Subject Classification ID

Selections in general topology (54C65) Markov and semi-Markov decision processes (90C40) General equilibrium theory (91B50)

Related Items (4)

Recursive equilibrium with price perfect foresight and a minimal state space ⋮ Existence and local uniqueness of functional rational expectations equilibria in dynamic economic models ⋮ Lipschitz recursive equilibrium with a minimal state space and heterogeneous agents ⋮ Market selection with an endogenous state

Cites Work

• A note on 'fulfilled expectations' equilibria
• Rational Expectations Equilibrium: Generic Existence and the Information Revealed by Prices
• The Non-Existence of Informational Equilibria
• Stochastic processes of temporary equilibria

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