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Endogenous Economic Fluctuations
- Studies in the Theory of Rational Beliefs
part of the Studies in Economic Theory series
- Language:
- English
- ISBN:
- 9783642082955
- Binding:
- Paperback
- Pages:
- 356
- Published:
- February 8, 2011
- Edition:
- 11997
- Dimensions:
- 155x235x19 mm.
- Weight:
- 1170 g.
Delivery:
1-2 weeks
Expected delivery: December 12, 2024
Description of Endogenous Economic Fluctuations
Contrary to the standard theory which views the origin of uncertainty as being exogenous to the economic system, the theory of rational beliefs holds that a crucial component of social risk and economic fluctuations is endogenously propagated by variations in the state of beliefs of market participants.
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