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The Evolving Rationality of Rational Expectations


  • Sent,Esther-Mirjam


Inspired by recent developments in science studies, this book offers an innovative type of analysis of the recent history of rational expectations economics. In the course of exploring the multiple dimensions of rational expectations analysis, Professor Sent focuses on the work of Thomas Sargent, an instrumental pioneer in the development of this school of thought. The investigation attempts to avoid a Whiggish history that sees Sargent's development as inevitably progressing to better and better economic analysis. Instead, it provides an illustration of what happened to the approach through a contextualization of Sargent's work vis-á-vis that of other scholars and ideas. The treatment aims to illuminate some of the shifting negotiations and alliances that characterize the rise and shift of direction in rational expectations economics. The Evolving Rationality of Rational Expectations won the 1998 Gunnar Myrdal Prize of the European Association for Evolutionary Political Economy for the best monograph on a theme broadly in accord with the EAEPE Theoretical Perspectives.

Suggested Citation

  • Sent,Esther-Mirjam, 2006. "The Evolving Rationality of Rational Expectations," Cambridge Books, Cambridge University Press, number 9780521027717, May.
  • Handle: RePEc:cup:cbooks:9780521027717

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    References listed on IDEAS

    1. Conybeare, John A C & Murdoch, James C & Sandler, Todd, 1994. "Alternative Collective-Goods Models of Military Alliances: Theory and Empirics," Economic Inquiry, Western Economic Association International, vol. 32(4), pages 525-542, October.
    2. Coase, R H, 1976. "Adam Smith's Views of Man," Journal of Law and Economics, University of Chicago Press, vol. 19(3), pages 529-546, October.
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    Cited by:

    1. Sheila C. Dow, 2013. "Framing finance: A methodological account," Working Papers PKWP1308, Post Keynesian Economics Study Group (PKSG).
    2. Jie-Shin Lin & Chris Birchenhall, 2000. "Learning And Adaptive Artificial Agents: An Analysis Of Evolutionary Economic Models," Computing in Economics and Finance 2000 327, Society for Computational Economics.
    3. Pier Luigi Sacco & Alessandro Crociata, 2013. "A Conceptual Regulatory Framework for the Design and Evaluation of Complex, Participative Cultural Planning Strategies," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 37(5), pages 1688-1706, September.
    4. Pedro Garcia Duarte & Kevin D. Hoover, 2012. "Observing Shocks," History of Political Economy, Duke University Press, vol. 44(5), pages 226-249, Supplemen.
    5. Philip Mirowski, 2011. "The Spontaneous Methodology of Orthodoxy, and Other Economists’ Afflictions in the Great Recession," Chapters,in: The Elgar Companion to Recent Economic Methodology, chapter 20 Edward Elgar Publishing.
    6. Dorian Jullien, 2017. "Interviews and the Historiographical Issues of Oral Sources," Post-Print halshs-01651062, HAL.
    7. Judy L Klein, 2015. "The Cold War Hot House for Modeling Strategies at the Carnegie Institute of Technology," Working Papers Series 19, Institute for New Economic Thinking.
    8. Dorian Jullien, 2017. "Practices of Using Interviews in History of Contemporary Economics: A Brief Survey," Post-Print halshs-01651053, HAL.

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