search query: @author Levine, D. / total: 6
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| Author: | Levine, D. |
| Title: | Do corporate executives have rational expectations? |
| Journal: | Journal of Business
1993 : APR, VOL. 66:2, p. 271-294 |
| Index terms: | BUSINESS ECONOMICS EXECUTIVES EXPECTATIONS |
| Language: | eng |
| Abstract: | This article presents tests of rational expectations using the Profit Impact of Market Strategy survey of executives of large corporations. Unlike past surveys, the respondents have a financial interest in being accurate. Executives do not have rational expectations concerning output prices, input prices, wages, or product demand. Expectations are difficult to predict; nevertheless, simple adaptive models do almost as well as more complicated specifications. |
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