Understanding expectational coordination as a major intellectual challenge: The “eductive” guide line

Roger Guesnerie ()

Revue d'économie politique, 2021, vol. 131, issue 3, 461-484

Abstract: The paper puts emphasis on the so-called ?eductive? approach for a critical assessment of the Rational Expectations hypothesis. Section 2 makes an intuitive unformal presentation, aimed at comparing the approach and the results of ?eductive? learning and ?real time? learning in two polar models, (a two period partial equilibrium model and a simple Real Business Cycle mode). A segment of theoretical literature, taking an eductive view of stability in the fields of finance, trade, general equilibrium, short term or long term macroeconomics, is reviewed in Section 3.

Keywords: Rational expectations; “real time” learning vs “eductive” stability; intuition andresults across fields (search for similar items in EconPapers)
Date: 2021
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Related works:
Working Paper: Understanding expectational coordination as a major intellectual challenge: The “eductive” guide line (2021)
Working Paper: Understanding expectational coordination as a major intellectual challenge: The “eductive” guide line (2021)
Working Paper: Understanding expectational coordination as a major intellectual challenge: the “eductive” guide line (2020)
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