Description - Individual Forecasting and Aggregate Outcomes by Roman Frydman
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.
Buy Individual Forecasting and Aggregate Outcomes by Roman Frydman from Australia's Online Independent Bookstore, BooksDirect.
A Preview for this title is currently not available.
Print on Demand, Firm Sale, 4-6 weeks for delivery.
