The theory of rational expectations was first proposed by John F. Muth of Indiana University in the early sixties.
The use of expectations in economic theory is not new.
Many earlier economists, including A. Pigou, John Maynard Keynes, and John R. Hicks, assigned a central role in the determination of the business cycle to people's expectations about the future.
Johann von Thunen John Bates Clark John Dewey John Hicks John Locke John Maurice Clark John Maynard Keynes JohnMuthJohn Rawls John Stuart Mill John von Neumann Joseph Bertrand Jules Dupuit Karl...
John Maynard Keynes, Biography: The Concise Encyclopedia of Economics: Libra...
