Testing rationality of price expectations on the basis of contingency tables
A method of analyzing rationality of expectations of economic agents, based on contingency tables, is applied to price expectations of Polish industrial enterprises. The source of data are surveys designed by the Economic Development Institute of the Warsaw School of Economics within the framework of business conditions surveys in industry. Empirical results clearly show that expectations of Polish entrepreneurs are not formed rationally. Rationality condition is confirmed in such a limited number of cases that it is not even feasible to differentiate between private and public enterprises as far as rationality of their expectations is concerned. Price expectations seem to be even more irrational than industrial production expectations analyzed earlier.
|Date of creation:||22 May 2007|
|Date of revision:|
|Contact details of provider:|| Postal: 02-513 Warszawa, ul. Madalinskiego 6/8|
Phone: + (48)(22) 49 12 51
Fax: + (48)(22) 49 53 12
Web page: http://www.sgh.waw.pl/instytuty/zes
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:wse:wpaper:1. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Marcin Owczarczuk)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.