Stability, Disequilibrium Awareness, and the Perception of New Opportunities
- 1 March 1981
- journal article
- Published by JSTOR in Econometrica
- Vol. 49 (2) , 279
- https://doi.org/10.2307/1913312
Abstract
This paper presents a model of general equilibrium stability in which agents understand that they are not at equilibrium. Rather, agents expect prices to change...Keywords
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