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Rational Expectations under Conditions of Costly Information

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  • Darby, Michael R

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  • Darby, Michael R, 1976. "Rational Expectations under Conditions of Costly Information," Journal of Finance, American Finance Association, vol. 31(3), pages 889-895, June.
  • Handle: RePEc:bla:jfinan:v:31:y:1976:i:3:p:889-95
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    References listed on IDEAS

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    1. Lucas, Robert E, Jr & Prescott, Edward C, 1971. "Investment Under Uncertainty," Econometrica, Econometric Society, vol. 39(5), pages 659-681, September.
    2. M. Nerlove & S. Wage, 1964. "On the Optimality of Adaptive Forecasting," Management Science, INFORMS, vol. 10(2), pages 207-224, January.
    3. Malinvaud, E, 1969. "First Order Certainty Equivalence," Econometrica, Econometric Society, vol. 37(4), pages 706-718, October.
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    Cited by:

    1. Lynne G. Zucker & Michael R. Darby, 1996. "Costly Information in Firm Transformation, Exit, or Persistent Failure," NBER Working Papers 5577, National Bureau of Economic Research, Inc.
    2. Michael R. Darby & Alan C. Stockman, 1980. "The Mark III International Transmission Model," NBER Working Papers 0462, National Bureau of Economic Research, Inc.
    3. Carr, Jack & Darby, Michael R., 1981. "The role of money supply shocks in the short-run demand for money," Journal of Monetary Economics, Elsevier, vol. 8(2), pages 183-199.
    4. Rodney L. Jacobs & Robert A. Jones, 1977. "A Bayesian Approach to Adaptive Expectations," UCLA Economics Working Papers 093, UCLA Department of Economics.
    5. Gomes, Orlando, 2012. "Rational thinking under costly information—Macroeconomic implications," Economics Letters, Elsevier, vol. 115(3), pages 427-430.
    6. Zijp, R. van, 1990. "New classical monetary business cycle theory," Serie Research Memoranda 0058, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    7. Rodney L. Jacobs, 1978. "An Examination of the Economic and Muthian Rationality of Price Level Forecasts," UCLA Economics Working Papers 135A, UCLA Department of Economics.
    8. Zijp, R. van, 1990. "Why Lucas is not a Hayekian," Serie Research Memoranda 0027, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    9. Michael R. Darby, 1983. "Actual versus Unanticipated Changes in Aggregate Demand Variables: A Sensitivity Analysis of the Real-Income Equation," NBER Chapters, in: The International Transmission of Inflation, pages 273-288, National Bureau of Economic Research, Inc.

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