Alpha-consistent expectations equilibria

We modify the concept of consistent expectations equilibria introduced in Hommes and Sorger (1998) in two ways: (i) the consistency condition requires that the probability that the agents reject their perceived law of motion in any period does not exceed a given level and (ii) there may exist exogenous stochastic shocks.(...)

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Year of publication:	1999-05-01
Authors:	Crespo-Cuaresma, Jesús ; Sorger, Gerhard
Publisher:	Institut für Informationsverarbeitung und -wirtschaft <Wien>
Subject:	Rationale Erwartung \| Gleichgewichtsmodell \| Stochastik

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Extent:	245760 bytes 8 p. application/pdf
Series:	Wirtschaftsuniversität Wien - Forschungsbezogene elektronische Publikationen - Working Paper Series Working Papers SFB "Adaptive Information Systems and Modelling in Economics and Management Science ; 33
Type of publication:	Book / Working Paper
Language:	English
Classification:	Subject matter and research method of business administration ; Macroeconomics. General Resources ; Individual Working Papers, Preprints ; No country specification
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10005841710