IDEAS home Printed from https://ideas.repec.org/h/pal/intecp/978-1-349-15248-3_13.html
   My bibliography  Save this book chapter

Minimax Behaviour and Price Prediction

In: Risk and Uncertainty

Author

Listed:
  • Edmond Baudier

Abstract

This study is an attempt to describe an abstract economic universe whose agents are confronted with the problem of price prediction. The consequences of a particular behaviour in relation to this problem are examined. The behavioural hypothesis chosen is that each agent believes the unknown price pattern to be determined by an adversary whose aim is to minimize the agent’s objective function. It follows that the forecasts made may differ from one agent to another. The purpose of the study is to show that the reactions generated by this method of prediction tend towards market equilibrium and price stability.

Suggested Citation

  • Edmond Baudier, 1968. "Minimax Behaviour and Price Prediction," International Economic Association Series, in: Karl Borch & Jan Mossin (ed.), Risk and Uncertainty, chapter 0, pages 283-310, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-15248-3_13
    DOI: 10.1007/978-1-349-15248-3_13
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:intecp:978-1-349-15248-3_13. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.