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Gomes, O. (2012). Rational thinking under costly information: macroeconomic implications. Economics Letters. 115 (3), 427-430
O. M. Gomes, "Rational thinking under costly information: macroeconomic implications", in Economics Letters, vol. 115, no. 3, pp. 427-430, 2012
@article{gomes2012_1715943812068, author = "Gomes, O.", title = "Rational thinking under costly information: macroeconomic implications", journal = "Economics Letters", year = "2012", volume = "115", number = "3", doi = "10.1016/j.econlet.2011.12.102", pages = "427-430", url = "http://www.sciencedirect.com/science/article/pii/S0165176511006252" }
TY - JOUR TI - Rational thinking under costly information: macroeconomic implications T2 - Economics Letters VL - 115 IS - 3 AU - Gomes, O. PY - 2012 SP - 427-430 SN - 0165-1765 DO - 10.1016/j.econlet.2011.12.102 UR - http://www.sciencedirect.com/science/article/pii/S0165176511006252 AB - The notion of optimized rational behavior in the formation of expectations is used in this note to study the dynamics of a simple macroeconomic model. In a setting where departures from stability are not possible under perfect foresight, the selection of an optimal degree of rationality may lead to the generation of long-term endogenous fluctuations. ER -