Eductive Stability in Sequential Exchange Economies : An Introduction

This paper provides a survey of results concerning eductive stability of equilibrium in an abstract 2-period exchange economy. Eductive stability is based on the Common Knowledge considerations underlying the work reported in the book Assessing rational expectations: eductive stabiltiy in economics from which this paper is a chapter. Iteratively Expectational stability is a necessary condition of eductive stability : conditions for IE stability as well as for local eductive stability are provided and discussed : these conditions stress a key role for the income effects of savings decisions as well as for their sensitivity to relative prices tomorrow

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Year of publication:	2007
Authors:	Calvo Pardo, Hector F. ; Guesnerie, Roger
Publisher:	[S.l.] : SSRN
Subject:	Theorie \| Theory \| Tauschwirtschaft \| Barter economy \| Rationale Erwartung \| Rational expectations

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