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Endogenous Economic Fluctuations: Studies in the Theory of Rational Beliefs (Studies in Economic Theory #6) book cover by
Hardcover

Endogenous Economic Fluctuations: Studies in the Theory of Rational Beliefs (Studies in Economic Theory #6)

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Total $3,739.75

Hardcover · 356 pages Springer Berlin Heidelberg · 1997

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Hardcover
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About the book

Endogenous Economic Fluctuations

The book presents a new theory of expectations called "rational beliefs". 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. One part of the book provides an exposition of the foundation of the theory of rational beliefs. A second part explores the structure of general equilibrium models in which market participants hold rational beliefs. The "Applications" part of the book studies the behavior of asset prices and rates of return on financial assets. It demonstrates that endogenous uncertainty provides a uniform paradigm for the study of economic fluctuations.

Details

Publisher
Springer Berlin Heidelberg
Format
Hardcover
Published
Aug 21, 1997
ISBN-13
9783540626121
Pages
356
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CopiesPrice per copyYou save
25 – 49 $149.59 12% off list
50 – 99 $147.89 13% off list
100+ $146.19 14% off list
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