Endogenous Economic Fluctuations Judith Riley Studienarbeit aus dem Jahr 2015

Studienarbeit aus dem Jahr 2015 im Fachbereich Geschichte Europas - Neuzeit

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Endogenous Economic Fluctuations Judith Riley Studienarbeit aus dem Jahr 2015The 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