Heterogeneous distribution of information and convergence to rational expectations equilibrium in a partial equilibrium model

Sandro Brusco

doi:10.1016/0165-1765(88)90065-1

Heterogeneous distribution of information and convergence to rational expectations equilibrium in a partial equilibrium model

Sandro Brusco

Economics

Research output: Contribution to journal › Article › peer-review

Abstract

In models of convergence to rational expectations equilibrium it is usually assumed that information is (initially) concentrated upon a group of agents. We argue that this assumption is relevant for convergence results, and we show that when it is removed convergence may disappear.

Original language	English
Pages (from-to)	21-25
Number of pages	5
Journal	Economics Letters
Volume	28
Issue number	1
DOIs	https://doi.org/10.1016/0165-1765(88)90065-1
State	Published - 1988

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title = "Heterogeneous distribution of information and convergence to rational expectations equilibrium in a partial equilibrium model",

abstract = "In models of convergence to rational expectations equilibrium it is usually assumed that information is (initially) concentrated upon a group of agents. We argue that this assumption is relevant for convergence results, and we show that when it is removed convergence may disappear.",

author = "Sandro Brusco",

year = "1988",

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PY - 1988

Y1 - 1988

N2 - In models of convergence to rational expectations equilibrium it is usually assumed that information is (initially) concentrated upon a group of agents. We argue that this assumption is relevant for convergence results, and we show that when it is removed convergence may disappear.

AB - In models of convergence to rational expectations equilibrium it is usually assumed that information is (initially) concentrated upon a group of agents. We argue that this assumption is relevant for convergence results, and we show that when it is removed convergence may disappear.

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DO - 10.1016/0165-1765(88)90065-1

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SN - 0165-1765

VL - 28

SP - 21

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JO - Economics Letters

JF - Economics Letters

IS - 1

ER -

Heterogeneous distribution of information and convergence to rational expectations equilibrium in a partial equilibrium model

Abstract

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