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Home > Working Papers > View by Author > Arlington W. Williams

Arlington W. Williams Working Papers

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#1989-001A "Tests of Rational Expectations in a Stark Setting"
by Gerald P. Dwyer, Jr., Arlington W. Williams, Raymond C. Battalio, and Timothy I. Mason


We test the hypothesis that forecasts by participants in a stark experimental setting are the same as the rational expectation. At least for a process as simple as a random walk, relatively sophisticated as well as relatively unsophisticated participants' forecasts can be characterized as consistent with rational expectations. More...

PUBLISHED: Economic Journal, May 1993, 103(418), pp. 586-601

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