Expectativas Racionais com Informação Assimétrica: Uma Introdução

Abstract

This is an introduction to the theory of rational expectations. We caver the case of symmetric information and the case of asymmetric information. We show that with complete markets and a finite number of states there always exists a Pareto optimum rational expectations equilibrium. However, it is possible under the same circumstances to have other rational expectations equilibria that are Pareto dominated.