MACROECONOMISTS GETTING REAL?

Will wonders never cease? The Reis and Woodford’s heterogeneous expectations conference at Columbia University. Abstract:

Conventional models in both macroeconomics and finance are based on the hypothesis of rational expectations, under which all agents are assumed to have common expectations, corresponding to the probabilities implied by the economist’s model. The adequacy of this familiar hypothesis . . . → Read More: MACROECONOMISTS GETTING REAL?

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I have learned more from [F. A. Hayek] than from any other living thinker, except perhaps Alfred Tarski .. but not even excepting Russell. — Karl Popper

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