Rational expectations in microeconomic models: An overview

DOI10.1016/0022-0531(82)90001-1zbMath0485.90020OpenAlexW2016843842MaRDI QIDQ1164535

Roy Radner, James S. Jordan

Publication date: 1982

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

Full work available at URL: https://doi.org/10.1016/0022-0531(82)90001-1

zbMATH Keywords

rational expectationssmoothing processesbehavior of learningexistence of rational expectations equilibriaexpository introductionimplementation of equilibria

Mathematics Subject Classification ID

General equilibrium theory (91B50) Research exposition (monographs, survey articles) pertaining to operations research and mathematical programming (90-02)

Related Items (18)

Bayesian learning and convergence to rational expectations ⋮ Continuous implementation of constrained rational expectations equilibria ⋮ Bayesian learning behaviour and the stability of equilibrium forecasts ⋮ An in-depth analysis of information markets with aggregate uncertainty ⋮ Extrinsic uncertainty and the informational role of prices ⋮ Similarity of differential information with subjective prior beliefs ⋮ THE MEANING OF MARKET EFFICIENCY ⋮ Partially-revealing rational expectations equilibrium in a competitive economy ⋮ Rational behavior and rational expectations ⋮ Aggregation, determinacy, and informational efficiency for a class of economies with asymmetric information ⋮ Partial revelation within rational expectations ⋮ Rational expectations equilibria in sequence economies with symmetric information: The two-period case ⋮ Ex post regret and the decentralized sharing of information ⋮ Fully revealing equilibria in sequential economies with asset markets ⋮ Rational expectations equilibrium: An alternative approach ⋮ A battle of informed traders and the market game foundations for rational expectations equilibrium ⋮ The existence of fully rational expectations approximate equilibria with noisy price observations ⋮ The existence of rational expectations equilibria in a large economy with noisy price observations

Cites Work

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• On the aggregation of information in competitive markets
• Admissible market data structures: A complete characterization
• A note on 'fulfilled expectations' equilibria
• Strict rational expectations equilibria with diffuseness
• Expectations conditioned on past data
• On the Efficient Markets Hypothesis
• Rational Expectations Equilibrium: Generic Existence and the Information Revealed by Prices
• Rational Expectations in Stationary Linear Models
• Generic Existence of Completely Revealing Equilibria for Economies with Uncertainty when Prices Convey Information
• An Introduction to the Theory of Rational Expectations Under Asymmetric Information
• Differential Topology
• The Non-Existence of Informational Equilibria
• Competitive Equilibrium Under Uncertainty

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