Eductive Expectations Coordination in Dynamic Economies : the Case of Deterministic Cycles
AbstractIn this paper we study expectations coordination on a deterministic 2-cycle by an "eductive" approach in which agents are concerned with forecasting the forecasts of others. This approach is grounded in some Common Knowledge assumption. We show that eductively stable 2-cycles exit. We also show that heterogeneity of fundamentals and expectations create difficulties to eductive coordination.
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Bibliographic InfoPaper provided by DELTA (Ecole normale supérieure) in its series DELTA Working Papers with number 2000-17.
Length: 22 pages
Date of creation: 2000
Date of revision:
EXPECTATIONS ; FORECASTS;
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