F. Muth and the emergence of the concept of rational expectations
John F. Muth et l’émergence de la notion d’anticipations rationnelles
Alain Beraud ()
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In this article, we wonder at first to what extent the personality of Muth can explain his analysis of the question of the expectations. Then, to highlight the specificity of his approach, we compare it to that of the other economists who, before or at the same time as he, used the expression "rational expectations". Finally, we study the spread of his theory and the critical look that he took on his contribution at the end of his life.
Keywords: Rational expectations; John F. Muth; New classical; Efficient markets; Anticipations rationnelles; nouveaux classiques; marchés efficients (search for similar items in EconPapers)
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Published in Revue d'histoire de la pensée économique, Classiques Garnier, 2018, 2018 – 1 (n° 5), pp.25-53. ⟨10.15122/isbn.978-2-406-08068-8.p.0025⟩
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01821222
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