Manzocchi, Stefano; MARINUCCI, Domenico - Dipartimento di Scienze Economiche e Sociali, Facoltà … - 1993
Strategic complementarities can lead to multiple Nash equilibria in macro-economic models. When this is the case of a decentralized economy, agents have to choose their strategy on the basis of the expected behaviour of other agents, but the concept of rational expectations is not a guide to...