Kenneth Arrow Quotes About Macro

We have collected for you the TOP of Kenneth Arrow's best quotes about Macro! Here are collected all the quotes about Macro starting from the birthday of the Economist – August 23, 1921! We hope you will be inspired to new achievements with our constantly updated collection of quotes. At the moment, this page contains 2 sayings of Kenneth Arrow about Macro. We will be happy if you share our collection of quotes with your friends on social networks!

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When you look at any experimental work not directly related to economics, but trying to test rational behavior in other ways, experiments have conspicuously failed to show rational behavior. Macro evidence certainly suggests deviations from rationality, but I don't want to say the rationality hypothesis is completely wrong. If you have any introspective idea or experimental idea about people's behavior, it seems to be incompatible with the really full scale rational expectations.
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Kenneth Arrow

Source: www.minneapolisfed.org

3101
It seems to me that at least as far as the financial markets are concerned, there is increasing evidence against rational expectations, even at the macro level.
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Kenneth Arrow

Source: www.minneapolisfed.org

4241

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Kenneth Arrow quotes about: Capitalism Economics Risk Security