Inferential expectations
We propose that the formation of beliefs be treated as statistical hypothesis tests, and we label such beliefs inferential expectations. If a belief is overturned through the build-up of evidence, agents are assumed to switch to the rational expectation. Thus, rational expectations is a special case...
| Autori principali: | , |
|---|---|
| Natura: | Working paper |
| Pubblicazione: |
University of Oxford
2004
|