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W2018415391 abstract "We study a dynamic market process in which traders condition their beliefs about payoff-relevant parameters on past endogenously generated market data and current exogenous data. We say that a market process is informative if the beliefs of traders who receive only endogenously generated market data converge almost surely to the true parameter value. Our main result is that under standard regularity hypotheses, the generic market process is informative. We define an equilibrium as the limit points of the market process." @default.
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W2018415391 date "1984-10-01" @default.
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W2018415391 title "Rational expectations equilibrium: An alternative approach" @default.
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W2018415391 doi "https://doi.org/10.1016/0022-0531(84)90164-9" @default.
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