Rational expectations

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Rational expectations

The idea that people rationally anticipate the future and respond today to what they see ahead. This concept was pioneered by Nobel Laureate, Robert E. Lucas, Jr.

Rational Expectations Theory

In economics, a theory stating that economic actors make decisions based on their expectations for the future, which are based on their observations and past experiences. A basic example of rational expectations theory is a situation in which a consumer delays buying a certain good because, based on his/her observations and experiences, he/she believes that the price will be less expensive in a month. If enough consumers believe that, demand eases and the good is likely to actually be less expensive next month. Thus, the consumer waits a month before buying the good. Rational expectations theory states that current expectations strongly influence future performance. Economists disagree about how well the rational expectations theory works in the real world.
References in periodicals archive ?
021) R&D-to-Sales Ratio Unionization Ratex R&D-to-Sales Ratio Segment hhi Unionization Rate x Segment hhi Debt Ratio -0.
The organization's wholly owned software company, RATEX Business Solutions (RBS), produces VisualRATEX(TM), the most comprehensive college store operating system and the only one owned and designed in part by collegiate retailers.
Our results continue to be impacted by lower Student Telephone Services (STS) revenue, our student long-distance resale outsourcing program for universities, lower than expected TelMaster system sales, and significantly lower year over year Ratex system sales.
22, 2000, the company entered into an agreement for the sale of Ratex, its point of sale software solution division for large university bookstores, to the Retail Alliance, a consortium of large university bookstores.
CafeScribe has partnered with different inventory control, POS and retail management solutions, including Booklog and RATEX, to help schools streamline the process of bringing CafeScribe digital books to campus bookstores across the U.
Cornell had to purchase the RATEX system (used by most large stores) to "operationalize" the strategy, says McDaniel, but the Cornell Store has since cut its costs by up to 3 percent, he says.
We are pleased that MBS, Sequoia, and RATEX elected to join Ingram to bring PrimeSource(R) to the college market.
Charles Marshall, Vice President of the Ingram's Higher Education Division, noted that a number of college bookstores using RATEX, POS, or MBS are already taking the necessary steps to implement PrimeSource(R) prior to or immediately after the winter term rush.
Michael Zerbib, chief executive officer of Telesoft, commented, "Our results were impacted by lower than expected TelMaster system sales mainly due to timing, and lower year over year Ratex system sales.
Furthermore, we are pleased to announce that the Ratex division has sold a $420,000 system to the University of California at Los Angeles Bookstore,'' he added.