Glasner, David - In: Studies in the history of monetary theory : …, (pp. 457-488). 2021
Hayek was among the first to realize that, in intertemporal equilibrium, all agents must have correct expectations of … future prices. Before comparing four categories of intertemporal equilibrium - (1) Perfect-foresight equilibrium, (2) Radner …'s approach. The now dominant Lucas rational-expectations equilibrium misconceives intertemporal equilibrium, suppressing Hayek …