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Partial revelation with rational expectations

Author

Listed:
  • HEIFETZ, Aviad
  • POLEMARCHAKIS, Heracles M.

Abstract

For alternative specifications of an economy under uncertainty, we build a partially revealing Rational Expectations Equilibrium (REE). At equilibrium, no individual knows the state of the world or the quantities traded by other individuals. The combination of these partial revelation properties is not a feature of the examples of partial revelation in the literature. A general proposition characterizes the residual dimension of uncertainty at a smooth REE.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • HEIFETZ, Aviad & POLEMARCHAKIS, Heracles M., 1998. "Partial revelation with rational expectations," LIDAM Reprints CORE 1324, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    • Handle: RePEc:cor:louvrp:1324
    DOI: 10.1006/jeth.1998.2391
    Note: In : Journal of Economic Theory, 80, 171-181, 1998
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    Cited by:

    1. Lall Ramrattan & Michael Szenberg, 2012. "The impact of The General Theory on Economic Theory and the Development of Public Policies: A Nested Vision of Keynes’s Ideas with the Classical Vision through a Panoramic View of his Works," Chapters, in: Thomas Cate (ed.), Keynes’s General Theory, chapter 8, Edward Elgar Publishing.
    2. Scott Condie & Jayant V. Ganguli, 2011. "Ambiguity and Rational Expectations Equilibria," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 78(3), pages 821-845.
    3. Zigrand, Jean-Pierre, 2001. "Rational limits to arbitrage," LSE Research Online Documents on Economics 25068, London School of Economics and Political Science, LSE Library.

    More about this item

    JEL classification:

    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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