Resuscitating the Cobweb Cycle

This note shows that permanent fluctuations in the Cobweb model - though inconsistent with a rational expectations equilibrium - can be justified as being rational when reinterpreting the model in the theory of rational beliefs

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Year of publication:	2002
Authors:	Schenk-Hoppé, Klaus Reiner
Publisher:	[S.l.] : SSRN
Subject:	Cobweb \| Theorie \| Theory \| Rationale Erwartung \| Rational expectations \| Rationalität \| Rationality

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