A new approach of price expectations

A new approach of price expectations

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Article ID: iaor20043639
Country: Hungary
Volume: 32
Issue: 1/2
Start Page Number: 1
End Page Number: 11
Publication Date: Jan 2001
Journal: Szigma
Authors: , ,
Abstract:

A new market model is provided which describes the uncertainty of the estimations by set-valued functions. The producer learns the market if the difference between the estimated price and the real market price converges to zero. A necessary and two sufficient conditions of the convergence are provided.

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