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Formation of Expectations and Learning in the Market


  • Kuchiki, Akifumi
  • Ogawa, Kazuo


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Suggested Citation

  • Kuchiki, Akifumi & Ogawa, Kazuo, 1990. "Formation of Expectations and Learning in the Market," The Developing Economies, Institute of Developing Economies, Japan External Trade Organization(JETRO), vol. 28(1), pages 42-66, March.
  • Handle: RePEc:jet:deveco:v:28:y:1990:i:1:p:42-66

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    References listed on IDEAS

    1. Cyert, Richard M & DeGroot, Morris H, 1974. "Rational Expectations and Bayesian Analysis," Journal of Political Economy, University of Chicago Press, vol. 82(3), pages 521-536, May/June.
    2. Hansen, Lars Peter & Hodrick, Robert J, 1980. "Forward Exchange Rates as Optimal Predictors of Future Spot Rates: An Econometric Analysis," Journal of Political Economy, University of Chicago Press, vol. 88(5), pages 829-853, October.
    3. Baillie, Richard T & Lippens, Robert E & McMahon, Patrick C, 1983. "Testing Rational Expectations and Efficiency in the Foreign Exchange Market," Econometrica, Econometric Society, vol. 51(3), pages 553-563, May.
    4. Newbery, David M, 1989. "The Theory of Food Price Stabilisation," Economic Journal, Royal Economic Society, vol. 99(398), pages 1065-1082, December.
    5. Friedman, Benjamin M., 1979. "Optimal expectations and the extreme information assumptions of `rational expectations' macromodels," Journal of Monetary Economics, Elsevier, vol. 5(1), pages 23-41, January.
    6. Stephen J. DeCanio, 1979. "Rational Expectations and Learning from Experience," The Quarterly Journal of Economics, Oxford University Press, vol. 93(1), pages 47-57.
    Full references (including those not matched with items on IDEAS)

    More about this item


    Catastrophic expectations; Learning process; Futures markets; カタストロフィー期待形成; 学習過程; 先物市場;

    JEL classification:

    • D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
    • Q21 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Demand and Supply; Prices


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