TY  - JOUR
AB  - This article develops an analysis of the conventional formation of expectations by means of introducing an overlooked factor in the analysis: the role of inference. Individual inferences and changes in evidential weight of beliefs and in the state of confidence are integrated with an analysis of the conventional character of expectations in a manner that is consistent with evidence provided by research in social psychology. This approach provides the link between the “agency” approach and the “structure” approach in Keynesian analysis that has been stressed as an important development. It also improves our understanding of the mechanisms underlying economic behavior under uncertainty such as liquidity‐preference in different social and cultural settings.
VL  - 31
IS  - 11/12
SN  - 0306-8293
DO  - 10.1108/03068290410561203
UR  - https://doi.org/10.1108/03068290410561203
AU  - Koutsobinas Theodore T.
PY  - 2004
Y1  - 2004/01/01
TI  - The formation of conventional expectations in Keynesian fundamental uncertainty
T2  - International Journal of Social Economics
PB  - Emerald Group Publishing Limited
SP  - 1109
EP  - 1119
Y2  - 2024/04/23
ER  -