单词 | rational expectations |
释义 | rational expectations Expectations which are model-consistent, leading to behaviour consistent with the model of the economy used in forming them. Such expectations are not necessarily correct in particular cases, but on average they cannot be improved on by use of any available information. Enthusiasts for rational expectations urge that individuals, firms or governments will make losses in terms of utility, profits, or achievement of policy objectives if they do not use all available information, which is what makes ‘rational expectations’ rational. Critics urge that actually accessing and manipulating information is expensive, in terms of both money and effort. Methods of forming expectations using less information and less processing which produce tolerable results will be preferred to rational expectations. This is a parallel to the argument between believers in optimizing and in satisficing. |
随便看 |
|
英汉经管词典收录了3426条经济管理类英汉双解词条,基本涵盖了经济学、管理学、金融学、会计学、证券期货、商务活动等领域的常用英语单词及短语词组的翻译及用法,是学习及工作的有利工具。