Imagine that prices evolve according to a function. Furthermore, assume that expectations are partially backward-looking, i.e., we
Fantastic news! We've Found the answer you've been seeking!
Question:
Imagine that prices evolve according to a function. Furthermore, assume that expectations are partially backward-looking, i.e., we have. Imagine that the cost of information gathering and processing is equal to. Do you expect agents in this economy to engage in information gathering and processing in the long run?
Related Book For
Posted Date: