Comparing expectational stability criteria in dynamical models: a preparatory overview
This paper compares the most significant expectational stability criteria that have been used to assess the plausibility of perfect foresight trajectories in forward-looking dynamical systems: determinacy of trajectories, absence of neighbour sunspot trajectories, and convergence of "evolutive" and "eductive" learning processes. It examines, within a set of increasingly complex dynamical models, the robustness of an equivalence principle suggested by the analysis of the simplest classes of those models.
|Date of creation:||2004|
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