Resuscitating the cobweb cycle

Klaus Reiner Schenk-Hoppé ()

Journal of Forecasting, 2004, vol. 23, issue 8, pages 621-624

Abstract: This article shows that permanent fluctuations in the cobweb model-though inconsistent with a rational expectations equilibrium-can be justified as being rational when reinterpreting the model in the theory of rational beliefs. Copyright © 2004 John Wiley & Sons, Ltd.

Date: 2004

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