Rational Expectations Equilibrium: Generic Existence and the Information Revealed by Prices
理性预期均衡：一般性存在与价格揭示的信息
When traders come to a market with different information about the items to be traded, the resulting market prices may reveal to some traders information originally available only to others.The possibility for such inferences rests upon traders having "models" or "expectations" of how equilibrium prices are related to initial information.This relationship is endogenous, which motivates the term "rational expectations equilibrium."This paper shows that, in a particular model…