Inferential Expectations and the Missing Middle of Price Changes

Microeconomic evidence suggests price changes are either very small, or large. The theory of inferential expectations predicts this phenomena if agents use a low test size, reflecting a reluctance to change their minds on the basis of evidence.

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Year of publication:	2010-05-03
Authors:	Menzies, Gordon ; Zizzo, Daniel John ; Henckel, Timo
Institutions:	School of Economics, University of East Anglia
Subject:	inferential Expectations \| prices \| near-rationality

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Extent:	application/pdf
Series:	University of East Anglia Applied and Financial Economics Working Paper Series.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series University of East Anglia Applied and Financial Economics Working Paper Series Number 008
Classification:	E31 - Price Level; Inflation; Deflation ; D84 - Expectations; Speculations
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008500584