Coordination on Saddle Path Solutions: the Eductive Viewpoint. 1- Linear Univariate Models

George William Evans () and Guesnerie Roger ()

Working Papers from Laval - Laboratoire Econometrie

Abstract: We investigate local strong rationality (LSR) in a one step forward looking univariate model with memory one. Eductive arguments are used to determine when common knowledge (CK) that the solution is near some perfect foresight path is sufficient to trigger complete coordination on that path (i.e. the path is LSR).

Keywords: ECONOMIC MODELS; ECONOMETRICS; MATHEMATICAL ANALYSIS (search for similar items in EconPapers)
JEL-codes: C00 C50 (search for similar items in EconPapers)
Date: 1999

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Working Paper: Coordination on saddle path solutions: the eductive viewpoint. 1 - linear univariate models (1999)
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