{"title":"The randomness of rational expectations: a perspective on Sargent's early incentives","authors":"E. Sent","doi":"10.1080/10427719900000075","DOIUrl":null,"url":null,"abstract":"This paper searches for the story Thomas Sargent is likely to have told when he was trying to use rational expectations economics in the late-1960s and early 1970s. An argument will be made for his interest in achieving what he would regard as conceptual integrity of the determinism in neoclassical economic theory and the randomness in econometrics. This involves providing a narrative of how he came to the idea of rational expectations and what he had to relinquish to be able to put his initial interpretation of the concept to use.","PeriodicalId":51791,"journal":{"name":"European Journal of the History of Economic Thought","volume":"6 1","pages":"439-471"},"PeriodicalIF":0.6000,"publicationDate":"1999-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10427719900000075","citationCount":"6","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"European Journal of the History of Economic Thought","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1080/10427719900000075","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q4","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 6
Abstract
This paper searches for the story Thomas Sargent is likely to have told when he was trying to use rational expectations economics in the late-1960s and early 1970s. An argument will be made for his interest in achieving what he would regard as conceptual integrity of the determinism in neoclassical economic theory and the randomness in econometrics. This involves providing a narrative of how he came to the idea of rational expectations and what he had to relinquish to be able to put his initial interpretation of the concept to use.
期刊介绍：
The European Journal of the History of Economic Thought (EJHET), a peer-reviewed journal, has quickly established itself as a leading forum for lively discussion on a wide range of issues in the history of economic thought. With contributions from both established international scholars and younger academics, EJHET is entirely pluralist and non-partisan with regard to subjects and methodologies - it does not subscribe to any particular current of thought, nor relate to any one geographic zone. The Managing Editors and Editorial Board and Advisory Board members are drawn from throughout Europe and beyond, and are committed to encouraging scholars from around the world to contribute to international research and debate.
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