...and Hurwicz (1959). 2We show in Section 4 that the hypothesis is consistent with these two phenomena. about the prediction of the theory (or the "objective" probability distributions of outcomes). The hypothesis asserts three things: (1) Information is scarce, and the economic system generally does...

...expectations" hypothesis, whereby, in the words of the author of that hypothesis (Muth, 1961)," ... expectations of firms (or, more generally, the subjective..."objective" probability distributions of outcomes)." To the best of my knowledge, all of these equations have been conceived in the shelter of armchairs;...

...changes that actually take place." Muth goes on to invoke his rational expectations hypothesis, "that the expectations of firms (or, more generally, the subjective...'objective' probability distributions of outcomes)" and to establish that both the periodic movement of time series displayed in so-called corn-hog cycles...

...be a more precise fashion: 'Expectations of firms (or more generally, the subjective probability of distribution of outcomes) tend to be distributed,...theory (or the 'objective' probability distributions of outcomes)'(see also Lucas and Sargent, 1981, pp. xvi-iii). Muth (1961, pp. 316-17) states that the...

...distribution of outcomes) tend to be distributed, for the same information set, about the predictions of the theory (or the 'objective' probability distributions of outcomes)" (p. 316). More recently, PAVB Swamy, James R. Barth, and PA Tinsley in their paper "The Rational Expectations...

...Creative rationality (agent is 'option-maker') Equilibrium Dynamic substantive procedural utopie designing information set. about the prediction of the theory (or the "objective" probability distribution of outcomes)' (Muth, 1961, pp. 319-20). This definition is interpretable in strong or...

...reference to the original formulation of the rational expectations hypothesis. In Muth's own words, 'the expectations of firms (or, more generally, the subjective...theory (or the "objective" probability distributions of outcomes)'.21 If expectations were not rational in the sense defined above - so Muth's argument runs...

...generated by the objective world. Describing the Rational Expectations Hypothesis, Muth writes: the expectations of firms (or, more generally, the subjective..."objective" probability distributions of outcomes). [Muth 1961: 316] Clearly, this understanding of probabilistic knowledge is in line with Cartesian notions...

...reference to the original formulation of the rational expectations hypothesis. In Muth's own words, "the expectations of firms (or, more generally, the subjective..."objective" probability distributions of outcomes)" (see, Muth, 1961, p. 316). If expectations were not rational in the sense defined above - so Muth's...

...subjective probability distribution of outcomes) tend to be distributed, for the same Information sei, about the prediction of the theory (or the 'objective' probability distributions of outcomes)." 357 Sachs/Larrain B. (2001), S. 599. 358 Vgl. Sachs/Larrain B. (2001), S. 599. "' Deutlich macht dies...