The Experts below are selected from a list of 9519 Experts worldwide ranked by ideXlab platform
Ryuichiro Ishikawa - One of the best experts on this subject based on the ideXlab platform.
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Rational Expectation Can Preclude Trades
Advances in Mathematical Economics, 2003Co-Authors: Takashi Matsuhisa, Ryuichiro IshikawaAbstract:We consider a pure exchange economy under uncertainty in which the traders have the non-partition structure of information. They willing to trade the amounts of state-contingent commodities and they know their own Expectations. Common knowledge of these conditions among all the traders can preclude trade if the initial endowments allocation is ex-ante Pareto optimal. Furthermore we introduce Rational Expectations equilibrium under the non-partition information, and prove the existence theorem and the fundamental theorems of welfare economics.
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Rational Expectation Can Preclude Trades
Advances in Mathematical Economics, 1Co-Authors: Takashi Matsuhisa, Ryuichiro IshikawaAbstract:We reconsider the no trade theorem in an exchange economy where the traders have non-partition information. By introducing a new concept, Rationality of Expectations, we show some versions of the theorem different from previous works, such as Geanakoplos (http://cowles.econ.yale.edu, 1989). We also reexamine a standard assumption of the no trade theorem: the common prior assumption.
Junji Shimada - One of the best experts on this subject based on the ideXlab platform.
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Rational Expectation bubbles: evidence from Hong Kong’s sub-indices
Applied Economics, 2014Co-Authors: Tatsuyoshi Miyakoshi, Junji ShimadaAbstract:This paper uses Hong Kong stock market’s four sub-indices to examine the existence and causes of Rational Expectation bubbles. The unit root test is applied to the Rational bubble hypothesis. Various causality test methods are used to examine the causality of bubble among the four sub-indices. The empirical results show that in the sub-periods of 1986-2002 and 2000-2012, the bubbles of Commerce & Industry and Utilities industries are consistent with Rational Expectation bubbles, but not so in the Finance and Properties industries. In general, the Rational Expectation bubbles in the two sub-periods seemed to have caused by Expectations in other growing foreign economies.
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Rational Expectation bubbles evidence from hong kong s sub indices
MPRA Paper, 2014Co-Authors: Tatsuyoshi Miyakoshi, Junji ShimadaAbstract:This paper uses Hong Kong stock market’s four sub-indices to examine the existence and causes of Rational Expectation bubbles. The unit root test is applied to the Rational bubble hypothesis. Various causality test methods are used to examine the causality of bubble among the four sub-indices. The empirical results show that in the sub-periods of 1986-2002 and 2000-2012, the bubbles of Commerce & Industry and Utilities industries are consistent with Rational Expectation bubbles, but not so in the Finance and Properties industries. In general, the Rational Expectation bubbles in the two sub-periods seemed to have caused by Expectations in other growing foreign economies.
Xue Nan - One of the best experts on this subject based on the ideXlab platform.
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Study on quadratic optimum modeling theory under Rational Expectation in macroeconomics
Journal of Harbin University of Commerce, 2006Co-Authors: Xue NanAbstract:In the condition of non-uniform dynamic addition object function,based on the macroeconomic theory of the quadratic optimal closed loop model,the static solutions of Riccati equation are obtained.Using the solutions,the analytic formulae of the equilibrium paths are derived.The quadratic optimum modeling theory under Rational Expectation in macroeconomics is built perfectly.The combination of Rational Expectation and modeling theory of quadratic optimum gives quantitative description of human being's ability of Expectation in macroeconomics.
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Complete Rational Expectation Riccati Static Equation of Quadratic Optimum
Journal of Harbin University of Science and Technology, 2001Co-Authors: Xue NanAbstract:On the condition of complete Rational Expectation, this paper gives the closed model frame of quadratic optimum in uniform macroeconomic with growth and fluctuation and educes the static factor equations of dynamic Riccati equation. The theoretic base of the estimation of maximum likelihood parameter method that is used to estimate the parameters is established. There- by the theory of Rational Expectation model of quadratic optimum is founded under complete ra- tional Expectation.
Kim Minseong - One of the best experts on this subject based on the ideXlab platform.
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Time-consistent decisions and Rational Expectation equilibrium existence in DSGE models
2020Co-Authors: Kim MinseongAbstract:Under some initial conditions, it is shown that time consistency requirements prevent Rational Expectation equilibrium (REE) existence for dynamic stochastic general equilibrium models induced by consumer heterogeneity, in contrast to static models. However, one can consider REE-prohibiting initial conditions as limits of other initial conditions. The REE existence issue then is overcome by using a limit of economies. This shows that significant care must be taken of when dealing with Rational Expectation equilibria
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Time-consistent decisions and Rational Expectation equilibrium existence in DSGE models
2020Co-Authors: Kim MinseongAbstract:Under some initial conditions, it is shown that time consistency requirements prevent Rational Expectation equilibrium (REE) existence for dynamic stochastic general equilibrium models induced by consumer heterogeneity, in contrast to static models. However, one can consider REE-prohibiting initial conditions as limits of other initial conditions. The REE existence issue then is overcome by using a limit of economies. This shows that significant care must be taken of when dealing with Rational Expectation equilibria.Comment: v4. Some corrections and interpretation-wise change in response to different comment
Roger Levy - One of the best experts on this subject based on the ideXlab platform.
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comprehension priming as Rational Expectation for repetition evidence from syntactic processing
Cognition, 2016Co-Authors: Mark Myslin, Roger LevyAbstract:Why do comprehenders process repeated stimuli more rapidly than novel stimuli? We consider an adaptive explanation for why such facilitation may be beneficial: priming is a consequence of Expectation for repetition due to Rational adaptation to the environment. If occurrences of a stimulus cluster in time, given one occurrence it is Rational to expect a second occurrence closely following. Leveraging such knowledge may be particularly useful in online processing of language, where pervasive clustering may help comprehenders negotiate the considerable challenge of continual Expectation update at multiple levels of linguistic structure and environmental variability. We test this account in the domain of structural priming in syntax, making use of the sentential complement–direct object (SC–DO) ambiguity. We first show that sentences containing SC continuations cluster in natural language, motivating an Expectation for repetition of this structure. Second, we show that comprehenders are indeed sensitive to the syntactic clustering properties of their current environment. In a series of between-groups self-paced reading studies, we find that participants who are exposed to clusters of SC sentences subsequently process repetitions of SC structure more rapidly than participants who are exposed to the same number of SCs spaced in time, and attribute the difference to the learned degree of Expectation for repetition. We model this behavior through Bayesian belief update, showing that (the optimal degree of) sensitivity to clustering properties of syntactic structures is indeed learnable through experience. Comprehension priming effects are thus consistent with Rational Expectation for repetition based on adaptation to the linguistic environment.
