D'Haultfœuille, Xavier; Gaillac, Christophe; Maurel, Arnaud - 2018
In this paper, we build a new test of rational expectations based on the marginal distributions of realizations and … subjective beliefs. This test is widely applicable, including in the common situation where realizations and beliefs are observed …-to-implement way to conduct a sensitivity analysis on the assumed form of expectations. Finally, we apply our framework to test for and …