Beating a dead horse – on rational expectations by Lars P. Syll

If I ask myself what I could legitimately assume a person to have rational expectations about, the technical answer would be, I think, about the realization of a stationary stochastic process, such as the outcome of the toss of a coin or anything that can be modeled as the outcome of a random process that […]

via Beating a dead horse — LARS P. SYLL

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