Data/hora: 06/06/2024 03:30:18

Provedor de dados: 	Research in Agricultural & Applied Economics (AgEcon Searh)	
País: 	United States	
Título: 	Fundamentals Versus Beliefs under Almost Common Knowledge	
Autores: 	Karp,   Larry S.	
Data: 	2006-02-06	
Ano: 	2000	
Palavras-chave: 	Equilibrium selection; History versus expectations; Economic growth; Common knowledge; Almost common knowledge; Non-convex technology; International Development; Resource /Energy Economics and Policy; D70; D82; D84; J60.	
Resumo: 	Modern economic growth models show that the equilibrium outcome may depend on agents' beliefs (expectations) rather than on economic fundamentals (history).  In this situation, the equilibrium is indeterminate.  However, if agents have "almost common knowledge" rather than common knowledge about the economic fundamentals, this indeterminacy vanishes in one of these models, under certain restrictions.  In this situation, the unique competitive equilibrium can be influenced by government policy, just as in standard models.	
Tipo: 	Working or Discussion Paper	
Idioma: 	Inglês	
Identificador: 	19812

http://purl.umn.edu/25006	
Editor: 	AgEcon Search	
Relação: 	University of California, Berkeley&gt;Department of Agricultural and Resource Economics&gt;CUDARE Working Papers

CUDARE Working Paper 871R	
Formato: 	32

application/pdf