Extensive empirical studies on the rationality of expectations as defined by Muth have revolved around tests on a … single series of forecast data, with results differing widely across studies. Rationality as an assessor characteristic has … long been of interest in economic theory and practice. However, as non-replicated events, single series tests do not …

rationality of aggregate stock-market forecasts. The BRT algorithm endogenously selects the predictor variables used to proxy the …

This paper used cross-sectional aggregation as the inspiration for a model with long-range dependence that arises in …

-sectional aggregation. Nonetheless, formal analysis regarding the effect that aggregation has on the long memory dynamics of temperature … aggregation may be exacerbating the long memory estimated in regional and global temperature data. The results are robust to the …

expenditure of a heterogeneous population. The starting point of our aggregation analysis is a dynamic behavioral relation on the …

effect of past benefit receipt increasing with the level of aggregation. The model can be improved considerably by permitting …