Perfect Foresight
A remark on the supposed equivalence between complete markets and perfect foresight hypothesis
... regarding the spot prices which will prevail at each date and in each state. As Bliss (1975: 44, 48) pointed out, the hypothesis of perfect foresight puts an impossible strain upon the assumption of ...
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Monotone Methods for Equilibrium Selection under Perfect Foresight Dynamics
... A perfect foresight path is defined to be a feasible path of action distribution along which every revising agent takes a best response to the future course of ...a perfect foresight path that ...
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Public expenditure on health and private old age insurance in an OLG growth model with endogenous fertility: chaotic cycles under perfect foresight
... under perfect foresight of individuals, the public provision of health care services, which determines the individual length of life, as well as the size of the intra-family transfer may determine complex ...
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Equity Pricing: Perfect Foresight versus Rational Expectations
... Our study does not challenge the substance of Baek et al. [1], other than to challenge its assumption of perfect foresight. By definition, a Schumpeterian event is one which makes existing technologies ...
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Paradoxes of Perfect Foresight in General Equilibrium Theory
... but perfect foresight is not a prerequisite. Perfect foresight is guaranteed if, for simplicity, we further assume both players announce their strategy during tˆ ...
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Public health spending, old age productivity and economic growth: chaotic cycles under perfect foresight
... As regards Result 3, even if the effects of higher health taxes on per capita income may be a priori ambiguous, given the negative monotonic effect on capital accumulation and the possib[r] ...
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Crowding out effects of government spending
... "Short Run Analysis of Fiscal Policy i n a Simple Perfect Foresight Model", Journal of Political Economy, Vol.. Explaining the Growth of Government, North Holland.[r] ...
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Bertrand competition with intertemporal demand
... had perfect foresight (see right-hand side of ...with perfect foresight always contains the range of collusive prices against consumers with martingale expectations, for any time prefer- ence ...
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A Time Step Energy Process Model for Germany - Model Structure and Results
... Perfect foresight means that the model in principle "knows" all the future parameters or boundary conditions and therefore, can react on future exogenously given changes in advan[r] ...
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Reducing sequence risk using trend following and the CAPE ratio
... “Perfect Foresight PWA”, present the value of the investment fund at the start of each year, the annual, perfect foresight withdrawal amount, and the value of the investment fund at the end of ...
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Hicks' thread (out of the equilibrium labyrinth)
... Before they can affect behaviour, mistakes need to be identified and in- terpreted. It is therefore proper to single out two kinds of theories – one relative to economic history, the other to economic policy – ...
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Iterated Potential and Robustness of Equilibria
... For any given set-valued solution concept, it is possible to consider iterative elimination of actions outside the solution set. This paper applies such a procedure to define the concept of iterated monotone potential ...
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The monetary analysis of hyperinflation and the appropriate specification of the demand for money
... maintains perfect foresight assuming that agents respond most likely instantaneously to changes in inflation during hyperinflation but abandons the Cagan money demand ...
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Measuring the Economic Stock of Money
... 1400 Perfect Foresight 1200 Targeted Factor Model Barnett et al.. Billions of Dollars..[r] ...
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Technology Foresight Fund
... Technology Foresight Fund, which will be administered by a dedicated Research Foundation, operating as a sub-Board of Forfás, is necessary in order to develop the world-class research capability in niche areas of ...
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The future of business in Visegrad region
... either Foresight or specifically scenario consulting service, they react with scep- ticism, and the only pro-Foresight arguments that are not au- tomatically rejected are those of real evidence of ...
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What corporations do with foresight
... the foresight activities by synthesizing the results into a ...the foresight process because foresight is, ideally, the launching point for other actions by the ...how foresight outputs were ...
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Strategic Foresight in multinational enterprises – a case study on the Deutsche Telekom Laboratories
... For this reason, we believe it is important and valuable to identify more successful cases, broaden the scope of research and incorporate the sophisticated creativity and collaboration tools emerging today within the Web ...
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Evolving foresight in a small transition economy: The design, use and relevance of foresight methods in Hungary
... Technology foresight – a systematic means of assessing scientific and technological developments, which could impact on industrial competitiveness, wealth creation and quality of life – offers an essential tool ...
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Foresight styles of strategy level leaders
... The CFA using the AMOS software was conducted based on the results of the EFA analysis (see table 2). ML estimation on the covariance matrix did not yield good model fit (CMIN) statistics. The x²/df fell within the ...
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