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- W2090679910 abstract "This article investigates how Ludwig Lachmann introduced the question of the endogenous formation of expectations in his 1943 and 1945 papers, a theoretical issue that remained at the heart of his research program throughout his career. After presenting the methodological and theoretical characteristics of the question he identified in 1943, I consider the embryonic causal analysis of expectations he tried to develop in 1945 by borrowing from Oskar Lange’s concept of the practical range. I then expose the methodological and theoretical flaws that may explain why he did not develop this analysis further in his subsequent works. Despite these flaws, I show that some insights of his aborted theory may nevertheless be of some usefulness to explain the causes of economic fluctuations. A possible reorientation of how to tackle the question of expectations is proposed in the conclusion." @default.
- W2090679910 created "2016-06-24" @default.
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- W2090679910 date "2014-03-13" @default.
- W2090679910 modified "2023-09-25" @default.
- W2090679910 title "Ludwig Lachmann on expectations in his early writings: an aborted theory?" @default.
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- W2090679910 doi "https://doi.org/10.1093/cje/beu005" @default.
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