A new perspective to rational expectations : maximin rational expectations equilibrium ∗

@inproceedings{Castro2010ANP,
  title={A new perspective to rational expectations : maximin rational expectations equilibrium ∗},
  author={Luciano Irineu de Castro and Marialaura Pesce and Nicholas C. Yannelis},
  year={2010}
}
We introduce a new notion of rational expectations equilibrium (REE) called maximin rational expectations equilibrium (MREE), which is based on the maximin expected utility (MEU) formulation. In particular, agents maximize maximin expected utility conditioned on their own private information and the information that the equilibrium prices generate. Maximin equilibrium allocations need not to be measurable with respect to the private information of each individual and with respect to the… CONTINUE READING

From This Paper

Figures, tables, results, connections, and topics extracted from this paper.
5 Extracted Citations
22 Extracted References
Similar Papers

Referenced Papers

Publications referenced by this paper.
Showing 1-10 of 22 references

A note on fulfilled expectations equilibria

  • M. D. KREPS
  • Journal of Economic Theory,
  • 1977
Highly Influential
5 Excerpts

Generic existence of completely revealing equilibria with uncertainty, when prices convey information

  • B. ALLEN
  • Econometrica
  • 1981
Highly Influential
7 Excerpts

Ambiguity and asset market

  • L. EPSTEIN, M. SCHNEIDER
  • 2010
1 Excerpt

On the limit points of Rational Expectations Equilibrium”, mimeo

  • W. KIM, M. PESCE, N. C. YANNELIS
  • 2010

Maximin Expected Utility and Equilibrium Theory with Asymmetric Information

  • L. EPSTEIN, M. SCHNEIDER
  • 2008

Maximin Expected Utility and Equilibrium Theory with Asymmetric Information, ”preliminary draft

  • L. DE CASTRO, N. C. YANNELIS
  • 2008
1 Excerpt

Similar Papers

Loading similar papers…