Alpha-consistent expectations equilibria
We modify the concept of consistent expectations equilibria introduced in Hommes and Sorger (1998) in two ways: (i) the consistency condition requires that the probability that the agents reject their perceived law of motion in any period does not exceed a given level and (ii) there may exist exogen...
| Main Authors: | , |
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| Format: | Others |
| Language: | en |
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SFB Adaptive Information Systems and Modelling in Economics and Management Science, WU Vienna University of Economics and Business
1999
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| Subjects: | |
| Online Access: | http://epub.wu.ac.at/1782/1/document.pdf |