Heterogeneous expectations, sunspot equilibria and their fragility

Economics Letters, 2009, vol. 105, issue 3, 276-279

Abstract: In a simple, univariate forward looking model, we show how a class of sunspot equilibria can depend on the relative fraction of agents under heterogeneous expectations. We then investigate if such equilibrium could be brought about by endogenous predictor choice dynamics.

Keywords: Sunspot; equilibria; Heterogeneous; expectations; Endogenous; predictor; choice (search for similar items in EconPapers)
Date: 2009
References: Add references at CitEc
Citations: View citations in EconPapers (7)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0165-1765(09)00281-X
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:105:y:2009:i:3:p:276-279

Access Statistics for this article

Economics Letters is currently edited by Economics Letters Editorial Office

More articles in Economics Letters from Elsevier
Bibliographic data for series maintained by Catherine Liu ().