In a message dated 11/10/02 8:41:23 PM, [EMAIL PROTECTED] writes: << There is a difference between ignorance and irrationality - that is the central point of this literature really. >>
Yes. Somewhere along the line someone--either the most ardents adherents or the most disingenuous opponents--has defined "rational expectations" as meaning that people are perfect prognosticators, omnicient not only about past conditions, but about future conditons as well. Under the definition nobody has "rational expectations."
