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The rational expectations hypothesis is one of the cornerstones of current economic theorising. I shall discuss experiments that focus on expectation formation by human subjects in learning-to-forecast contexts and analyse the implications for the rational expectations hypothesis.

Detail Summary
Date 27 October 2014
Time 12:00 -13:00
Location
Roeterseilandcampus - building J/K
Room The seminar will be held in room J/K 2.50
Organised by Florian Wagener

In the experiments, most agents are rational in an operational sense and their expectations coordinate quickly, but not necessarily on the rational expectations value.  Even in those situations in which the hypothesis gives a good description, I shall argue that it is more likely that coordination on rational values is brought about by the institutional structure of the market rather than the rationality of the agents.

Lunch will be provided

Roeterseilandcampus - building J/K

Room The seminar will be held in room J/K 2.50

Valckenierstraat 65-67
1018 XE Amsterdam