TITLE

What's so rational about rational expectations? Hyperrationality and the logical limits to

AUTHOR(S)
Shulman, Steven
PUB. DATE
September 1997
SOURCE
Journal of Post Keynesian Economics;Fall97, Vol. 20 Issue 1, p135
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
Discusses the rational expectations hypothesis in post-Keynesian economics. Hyperrationality; Extension of use beyond the neoclassical model in which it was originally deployed; Decision-making process.
ACCESSION #
1190840

 

Related Articles

  • Indeterminacy of macroeconomic equilibrium in a "Post Keynesian New Classical" model. Rosser Jr., J. Barkley // Journal of Post Keynesian Economics;Fall91, Vol. 14 Issue 1, p111 

    This article examines a simple idea that under certain conditions, the neoclassical aggregate supply and aggregate demand curves could coincide. This would suggest a continuum of possible macroeconomic equilibrium, resulting in a severe indeterminacy. This result can be viewed as a manifestation...

  • Great expectations: what the dickens do 'rational expectations' mean? Colander, David C.; Guthrie, Robert S. // Journal of Post Keynesian Economics;Winter80/81, Vol. 3 Issue 2, p219 

    Describes the rational expectations hypothesis. Origins of rational expectations; Assumption of dynamic rationality; Implications of rational expectations hypothesis for neoclassical models.

  • For a heterodox mainstream economics: an academic manifesto. Bresser-Pereira, Luiz Carlos // Journal of Post Keynesian Economics;Fall2012, Vol. 35 Issue 1, p3 

    The hard core of neoclassical economics (general equilibrium, rational expectations macroeconomics, and endogenous growth models) is essentially mistaken because it adopts a hypothetical-deductive method that is suitable for the methodological sciences, whereas a substantive social science...

  • Risk and the role of failed expectations in an uncertain world. Williams, Edward E.; Findlay III, M. Chapman // Journal of Post Keynesian Economics;Fall86, Vol. 9 Issue 1, p32 

    Focuses on the risk and the role of failed expectations in an uncertain world. Mix of risk and uncertainty which neoclassical theory embodies; Bayesian-neoclassical assertion; Application of rational expectations assumptions into the argument.

  • Keynesian model building and the rational expectations critique. Lawson, Tony // Cambridge Journal of Economics;Dec81, Vol. 5 Issue 4, p311 

    Comments on the Keynesian model building and the rational expectations in economics. Assessment on the arguments about expectation formation; Justification on the Keynesian positions on the issues considered; Distinction between the Keynesian and the standard approach.

  • Keynes, Harrod, and the rational expectations revolution. Fazzari, Steven M. // Journal of Post Keynesian Economics;Fall85, Vol. 8 Issue 1, p66 

    Analyzes effects of rational expectations techniques on the structure and results of a dynamic Keynesian output determination model based on growth theory. Impact of considerations suggested by the rational expectations approach on the model; Comparison between rational and adaptive expectations.

  • A test of the Post Keynesian hypothesis on expectation formation in the foreign exchange market. Moosa, Imad A. // Journal of Post Keynesian Economics;Spring2002, Vol. 24 Issue 3, p443 

    Presents the structural time series supporting the Post Keynesian hypothesis on the role of expectations in the foreign exchange market. Role of expectations in economic activity; Data of exchange rates for currencies; Estimation of the structural time series model from historical data.

  • Rational expectations and Keynesian uncertainty: a critique. Rutherford, Malcolm // Journal of Post Keynesian Economics;Spring84, Vol. 6 Issue 3, p377 

    Examines key issues relevant to rational expectations and uncertainty in Keynesian economics. Economic behavior; Approaches to knowledge and expectations in economics; Generality of economic hypothesis.

  • Rational expectations: a fallacious foundation for studying crucial decision-making processes. Davidson, Paul // Journal of Post Keynesian Economics;Winter82/83, Vol. 5 Issue 2, p182 

    Explores the proponents of rational expectations. Theory of stochastic processes to indicate where rational expectations can result in errors over time; Development of economic conditions for the existence of nonergodic case in economics; Keynes' macroeconomic analysis in terms of nonergodicity.

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics