12.07.2013 Views

Consistent Expectations Equilibria and Complex Dynamics in ...

Consistent Expectations Equilibria and Complex Dynamics in ...

Consistent Expectations Equilibria and Complex Dynamics in ...

SHOW MORE
SHOW LESS

Create successful ePaper yourself

Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.

W?|hL_ U| L?<br />

W? | i T@t| _iU@_i @_@T| i *i@h? ?} 4L_i*t @ i Mii? ThLTLti_ @t @? @*|ih?@<br />

| i |L h@| L?@* i TiU|@| L?tc tii i } , @?t @?_ OL?!@TL @ E bbb @?_ 5@h}i?|<br />

E bb c bbb uLh hiUi?| t h i)t W? UL?|h@t| |L h@| L?@* i TiU|@| L?tc @_@T| i *i@h?<br />

?} 4L_i*t @tt 4i | @| @}i?|t _L ?L| @ i TihuiU| !?L *i_}i @ML | 4@h!i| i^<br />

* Mh 4 i^ @| L?tc M | @ i tL4i Mi* iuc | i TihUi i_ *@ Lu 4L| L?c @ML | | i<br />

|h i ?!?L ? @U| @* *@ Lu 4L| L? Nt @**) | i TihUi i_ *@ Lu 4L| L? t tL4i<br />

T@h@4i|ih 3i_ 4L_i* @?_ @_@T| i *i@h? ?} t 4T*) 4i@?t T_@| ?} Lu | i T@h@4i<br />

|iht Lu | i TihUi i_ *@ Lu 4L| L?c i } M) Lh_ ?@h) *i@t| t^ @hitc @t @__ | L?@*<br />

LMtih @| L?t MiUL4i @ @ *@M*i A i 4T* i_ @U| @* *@ Lu 4L| L? ?_ih @_@T| i<br />

*i@h? ?} t | t @ | 4i @h) ?} ti*u hiuihi?| @* Lh uii_M@U! t)t|i4 _iTi?_ ?} TL?<br />

| i TihUi i_ *@ Lu 4L| L? W? | t uh@4i Lh!c @ h@| L?@* i TiU|@| L?t i^ * Mh 4<br />

t t 4T*) @ t | @| L? ihi | i 4T* i_ @U| @* *@ Lu 4L| L? i @U|*) UL ?U _it |<br />

| i TihUi i_ *@ Lu 4L| L?c @?_ @_@T| i *i@h? ?} 4@) UL? ih}i |L t U @ h@| L?@*<br />

i TiU|@| L?t i^ * Mh 4<br />

OL i ihc UL? ih}i?Ui |L @ h@| L?@* i TiU|@| L?t i^ * Mh 4 U@? L?*) LUU h i?<br />

| i TihUi i_ *@ Lu 4L| L? t ULhhiU|*) tTiU €i_ @?_ ? | i t@4i U*@tt @t | i E ?<br />

!?L ? @U| @* *@ Lu 4L| L? ` i? @}i?|t Mi* i i ? @ 4 ttTiU €i_ 4L_i* UL?<br />

ih}i?Ui |L h@| L?@* i TiU|@| L?t U@? ?i ih LUU hc @?_ | i Mit| L?i U@? LTi uLh<br />

t | @| | i @_@T| i *i@h? ?} ThLUitt UL? ih}it |L @? @TThL 4@|i h@| L?@* i TiU<br />

|@| L?t i^ * Mh 4< | LT| 4@* 4 ttTiU €i_ uLhiU@t|t E5@h}i?|c bbb 5 U @?<br />

@TThL 4@|i h@| L?@* i TiU|@| L?t i^ * Mh 4 4@) Mi @ tiu * UL?UiT| _itUh M ?} @<br />

t | @| L? ihi @}i?|t _L ?L| ?_iht|@?_ | i Lh*_ ? |t u ** UL4T*i |)c M | @ i<br />

tL4i t 4T*i TihUiT| L? Lu | t UL4T*i Lh*_ @?_ |h) |L 4 ? 4 3i | i h uLhiU@t| ?}<br />

ihhLht | ? | i h t 4T*i i Lu | i Lh*_<br />

A i Thiti?| T@Tih @TT* it | i ?L| L? Lu UL?t t|i?| i TiU|@| L?t i^ * Mh 4 E ,,<br />

|L @? LT| 4@* @h it| ?} 4L_i* Lu hi?i @M*i hitL hUi 4@h!i|tc ? T@h| U *@h €t<br />

ih it ,, hiuiht |L @ t | @| L? ihi | i ?!?L ? *@ Lu 4L| L? t ?L?* ?i@hc<br />

M | @}i?|t |h) |L uLhiU@t| | i UL4T*i ?L?* ?i@h Lh*_ | * ?i@h uLhiU@t| ?} h *it<br />

W? i^ * Mh 4 | iti * ?i@h uLhiU@t| ?} h *it @hi UL?t t|i?| L i ihc | @| tc | i) @hi<br />

ULhhiU| ? |ih4t Lu t@4T*i 4i@? @?_ t@4T*i @ |LULhhi*@| L?t ,, 4@) | t<br />

Mi tii? @t @? @TThL 4@|i h@| L?@* i TiU|@| L?t i^ * Mh 4

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!