assumption: rationality of economic agents. It discusses role of rationality assumption in neoclassical and evolutionary theories …; importance of expectations; and perspectives for analyzing them within the framework of evolutionary game theory - namely …

this result, it is established too that adding common knowledge of the rationality of the formation of expectations —on top … of that of rationality of choices and market clearing— does not suffice either to guarantee rational expectations …Rational expectations do not require beliefs to be consistent with history and with what agents can conclude from it …

The notion of optimized rational behavior in the formation of expectations is used in this note to study the dynamics …, the selection of an optimal degree of rationality may lead to the generation of long-term endogenous fluctuations. …

frequency and real-time data. I present a collection of 37 different measures of inflation expectations, including many … previously unexploited monthly and real-time measures of inflation expectations. These higher frequency measures tend to … outperform the standard three low frequency survey measures in tests of accuracy, predictive power, and rationality, indicating …

The paper proves that the Bayesian approach to learning and expectations formation implies no propositions that could … observations, and the assumption of Bayesian rationality. Since no betting strategy is irrational, Bayesianism is useless as a …

assumption of rationality forms the basis of neoclassical economic theory, question of whether expectations of industrial …Expectations concerning key economic variables certainly influence decisions undertaken by economic agents. Since … enterprises are indeed formed rationally deserves careful attention. Direct data on expectations are available mainly through …

We consider Rational Expectations Equilibria in infinite horizon models in which equilibrium to-day depends upon the …

becoming a metric for rationality. When inferential expectations are built into a Dornbusch-style model of the exchange rate … inferential expectations. If a belief is overturned through the build-up of evidence, agents are assumed to switch to the rational … expectation. Rational expectations are shown to be a special (limiting) case of inferential expectations, with the test size a …

neoclassical assumption of selfish utility maximization with bounded rationality and satisficing and by incorporating the reaction …