Rational expectations in microeconomic models

An overview

James Schuyler Jordan, Roy Radner

Research output: Contribution to journalArticle

44 Citations (Scopus)

Abstract

This paper is an expository introduction to several topics of current research in the general equilibrium theory of rational expectations. More specifically, we discuss the existence of exact and approximate rational expectations equilibria, the implementation of equilibria, the behavior of learning and smoothing processes by which traders construct expectations from repeated observations of the market, and the lagged use of the information revealed by prices in an intertemporal sequence of markets. The purpose of this discussion is to introduce papers on these topics appearing in the Journal of Economic Theory Symposium on Rational Expectations in Microeconomic Models.

Original languageEnglish (US)
Pages (from-to)201-223
Number of pages23
JournalJournal of Economic Theory
Volume26
Issue number2
DOIs
StatePublished - Jan 1 1982

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Rational expectations
Microeconomics
Symposium
Rational expectations equilibrium
Smoothing
Traders
Economic theory
General equilibrium theory

All Science Journal Classification (ASJC) codes

  • Economics and Econometrics

Cite this

Jordan, James Schuyler ; Radner, Roy. / Rational expectations in microeconomic models : An overview. In: Journal of Economic Theory. 1982 ; Vol. 26, No. 2. pp. 201-223.
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Rational expectations in microeconomic models : An overview. / Jordan, James Schuyler; Radner, Roy.

In: Journal of Economic Theory, Vol. 26, No. 2, 01.01.1982, p. 201-223.

Research output: Contribution to journalArticle

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