Question:
People use all available information to form expectations of a variable and don't make systematic errors. Before rational expectations we had adaptive expectations.
Author: Daniel OrtegaAnswer:
Rational expectation
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Author
Daniel Ortega![Daniel Ortega](https://markdown.memory.com/assets/uploadImageUrl__20ae8c2b-bcdb-43f2-a5bf-98f83c1b047c.jpg)