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 ?
NBC) and Pennsylvania, US-based independent college stores coalition Collegiate Retail Alliance, owner of RATEX Business Solutions (RBS) have agreed to merge their technology businesses to form PrismRBS (Prism Retail Business Solutions) to serve the independent store marketplace, the companies said.
021) R&D-to-Sales Ratio Unionization Ratex R&D-to-Sales Ratio Segment hhi Unionization Rate x Segment hhi Debt Ratio -0.
In the past we used to call it Ratex, now we call it Hale Phirimi (different makes of rat poison), after eating that it won't return.
Thus, to complement ratex formulations, and borrowing from the machine-learning literature developed in computer science (Biethalm & Nissen, 1995), we propose a learning algorithm that is mathematically tractable without requiring all typical restrictions of more traditional non-linear stochastic models.
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.
NBC said the announcement of RATEX utilising the cloud-based PrismPOS technology highlights the benefits of the two companies working together toward a common goal.
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.
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.