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We next turn to models of diverse beliefs without private information. We explore work on Rational Belief Equilibria (i.e. RBE) starting with modeling beliefs. Agents do not know the structure of the dynamically complex economy but have data over a long time to enable an econometric computation of the empirical moments, on the basis of which they compute a commonly known empirical probability on sequences...
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We next turn to models of diverse beliefs without private information. We explore work on Rational Belief Equilibria (i.e. RBE) starting with modeling beliefs. Agents do not know the structure of the dynamically complex economy but have data over a long time to enable an econometric computation of the empirical moments, on the basis of which they compute a commonly known empirical probability on sequences...
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