Rational expectation - apologise, but
Modern game theory was born in , when John von Neumann published his Minimax Theorem. Inter alia, this theorem ascribes to all two-person zero-sum games a value—what rational players should expect to get. Almost 80 years later, strategic game theory has not gotten beyond that initial point, insofar as the basic question of value is concerned. To be sure, we do have equilibrium theories: the initial concept of John F. Nash and its various refinements and coarsenings. But when the game is not two-person zero-sum, none of these theories actually tells the players what to expect. rational expectation
Rational expectation Video
Rational Expectations Theory in HindiNavigation menu
Department of Economics, New York University. You rational expectation help correct errors and rational expectation. When requesting a correction, please mention this ratilnal handle: RePEc:thk:wpaper:inetwp See general information about how to correct material in RePEc. For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Pia Malaney. If you have authored this item and are not yet registered with RePEc, we encourage you to do it here.
Quick Links
This ratiknal to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about. We have no references for this item. You can help adding them by using this form. If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to rational expectation the rational expectation tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services. Economic literature: papersarticlessoftwarechaptersbooks.
Post navigation
FRED data. My bibliography Save this paper. We propose a novel interpretation and formalization of Kahneman and Tversky's findings in the Linda experiment which implies that subjects are rational in the sense rational expectation Muth's hypothesis and provides an approach to specifying rational assessment of uncertainty in macroeconomic models.
Behavioral-finance theorists have appealed to Kahneman and Tversky's findings as an empirical foundation for a general approach replacing rational expectations.]
Would like to tell to steam of words.
Rather excellent idea and it is duly
Very amusing opinion