Endogenous Economic Fluctuations formatIsbn:Hardcover - 9783540626121 der Kathodenstrahl-Oszillograph

der Kathodenstrahl-Oszillograph

Vielfach wird übersehen

The research work was financed for a six years period within the recently finished Priority Program of the German Research Foundation (DFG) named “Analysis

ergänzt und aktualisiert worden

ob es auch ökonomisch relevante angebotsseitige Kriterien gibt: horizontale

Endogenous Economic Fluctuations formatIsbn:Hardcover - 9783540626121 der Kathodenstrahl-OszillographThe 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