The complexity of the global financial crisis beginning 2007 has challenged professionals. For students, the crisis's interconnected elements, covered in multiple courses and the concepts of derivatives central to it, are overwhelming. Providing short answers to their questions often creates...

We examine the role of expectations in a model aimed to explain financial fluctuations. The model restates the core of Minsky's financial instability hypothesis, focusing on the role of expectations. The hypotheses concerning the process of formation and revision of expectations are discussed in...