rational expectation

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The results show that stationary rational expectations equilibria of this model are unstable under this type of evolutionary adaptation.
Higher discount rates bend supply backward more to generate multiple steady-state rational expectations equilibria.
Optimal policy under adaptive learning displays some similarity with optimal policy under commitment in the rational expectations setting.
Some of these issues, like rational expectations, time consistency, and implicit contracts, later became very popular in the profession.
Agents would then prefer to infer the value of information directly from this quantity, rather than making costly rational expectations computations.
Within rational expectations equilibria, such a statement is not even meaningful.
Besides forming rational expectations, agents in our model experiment with various other expectations strategies that are computationally cheaper than rational expectations.
One of these problems is due to the fact that economic models may exhibit multiple rational expectations solutions.
As we exclude rational expectations, the firm reinforces the innovation strategies that have yielded the highest cost reduction in the past.
This consensus exploded at the beginning of the seventies with the advent of rational expectations.
In this analysis, output shocks are deterministic rather than stochastic, and thus the assumption of rational expectations of the wage setters implies perfect foresight.
However, in several papers, you have been critical of the rational expectations hypothesis and the assumption of unbounded rationality that pervades modern mainstream macroeconomics.
Moreover, there is some tension in the rational expectations account of regime change.
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