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Endogenous Economic Fluctuations
Mordecai . Ed(S): Kurz
€ 185.28
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Description for Endogenous Economic Fluctuations
Paperback. Editor(s): Kurz, Mordecai. Series: Studies in Economic Theory. Num Pages: 356 pages, 19 black & white tables, biography. BIC Classification: KCA; KCP. Category: (P) Professional & Vocational. Dimension: 234 x 156 x 19. Weight in Grams: 527.
The book presents a new theory of expectations called "rational beliefs". Contrary to the standard theory which views the origin of uncertainty as being exogenous to the economic system, the theory of rational beliefs holds that a crucial component of social risk and economic fluctuations is endogenously propagated by variations in the state of beliefs of market participants. One part of the book provides an exposition of the foundation of the theory of rational beliefs. A second part explores the structure of general equilibrium models in which market participants hold rational beliefs. The "Applications" part of the book studies the ... Read more
The book presents a new theory of expectations called "rational beliefs". Contrary to the standard theory which views the origin of uncertainty as being exogenous to the economic system, the theory of rational beliefs holds that a crucial component of social risk and economic fluctuations is endogenously propagated by variations in the state of beliefs of market participants. One part of the book provides an exposition of the foundation of the theory of rational beliefs. A second part explores the structure of general equilibrium models in which market participants hold rational beliefs. The "Applications" part of the book studies the ... Read more
Product Details
Format
Paperback
Publication date
2011
Publisher
Springer-Verlag Berlin and Heidelberg GmbH & Co. KG Germany
Number of pages
356
Condition
New
Series
Studies in Economic Theory
Number of Pages
356
Place of Publication
Berlin, Germany
ISBN
9783642082955
SKU
V9783642082955
Shipping Time
Usually ships in 15 to 20 working days
Ref
99-15
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