Rational expectations do not require beliefs to be consistent with history and with what agents can conclude from it …. Actually, at a rational expectations equilibrium agents may hold beliefs that explain poorly the history they observe, even … expectations instead —in the sense of following from beliefs that explain history better than any other beliefs justifying their …

In an economy with asymmetric information, Rational Expectations Equilibria (REE) need not become asymptotically …

We provide a definition of the rational expectations core in an atomless economy with asset markets and show that … allocations in the core can be decentralized by a system of asset and spot prices as rational expectations equilibria. …

reasons why adaptive learning may or may not lead to stability and convergence to self-fulfilling expectations in large …

reasons why adaptative learning may or may not lead to stability and convergence to self-fulfilling expectations in large …

In a game with rational expectations individuals refine their information with the information revealed by strategies … expectations, the information of individuals is essentially summetris: the same profile is also an equilibrium of a game with …