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Rational Belief Structures and Rational Belief Equilibrium


Author Info

  • Carsten Krabbe Nielsen

    (Institute of Economics, University of Copenhagen)


The paper introduces some simplifying tools and methods for studying Rational Beliefs and for proving existence of Rational Belief Equilibria: We identify a set of stable non-stationary stochastic processes, named SIDS processes. Furthermore we introduce the concept of a Rational Belief Structure, which formulates the Rational Beliefs of the agents as beliefs about the distribution of exogenous variables and the beliefs of other agents. The use of the developed apparatus is demonstrated by showing existence of a set of Rational Belief Equilibria in an Overlapping Generations Model with money and one commodity.

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Bibliographic Info

Paper provided by University of Copenhagen. Department of Economics in its series Discussion Papers with number 95-14.

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Length: 36 pages
Date of creation: Aug 1995
Date of revision:
Handle: RePEc:kud:kuiedp:9514

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Keywords: stable stochastic processes; non-stationarity; general equilibrium; OLG model;

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