Outside the idealized world of Lucas’s concept, knowledge is imperfect, individuals stick to wrongheaded ideas, and there isn’t any agreed version of how the economy works.
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Nov 22-23, 2024. York, PA.
Outside the idealized world of Lucas’s concept, knowledge is imperfect, individuals stick to wrongheaded ideas, and there isn’t any agreed version of how the economy works.
Volatility is the engine of market behavior.