Resuscitating the cobweb cycle

Klaus Schenk-Hoppé

Journal of Forecasting, 2004, vol. 23, issue 8, 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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Persistent link: https://EconPapers.repec.org/RePEc:jof:jforec:v:23:y:2004:i:8:p:621-624

DOI: 10.1002/for.936

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