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Non-Optimality of Rational Expectations Equilibrium: the Complete Markets Case

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  • Paulo C. Coutinho

Abstract

In this note we show that the conditions that guarantee uniqueness and optimality of Walrasian equilibrium under uncertainty are not sufficient to guarantee these results for non-noisy rational expectations equilibrium under asymmetric information.

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  • Paulo C. Coutinho, 1986. "Non-Optimality of Rational Expectations Equilibrium: the Complete Markets Case," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 53(5), pages 883-884.
    • Handle: RePEc:oup:restud:v:53:y:1986:i:5:p:883-884.
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    File URL: http://hdl.handle.net/10.2307/2297725
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    1. repec:bas:econth:y:2012:i:2:p:35-56 is not listed on IDEAS
    2. repec:bas:econth:y:2012:i:2:p:57-75 is not listed on IDEAS

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