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Author: Roger Guesnerie
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This paper examines justifications of the rational expectations hypothesis that rely on the analysis of the agents' mental forecasting ('educing') activity which involves 'forecasting the forecasts' of others etc. The co...Read more...
George W. Evans and Roger Guesnerie
We examine the connection between two stability concepts of rational expectations equilibria: expectational stability, based on the convergence of iterations of expectations, and strong rationality, based on uniqueness o...Read more...
Roger Guesnerie and C. Oddou
Core-like solution concepts based on stable coalition structures are studied in the context of games which are not necessarily superadditive. It is shown that a simple economic model involving local public goods financed...Read more...