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New Keynesian Vs Keynes Challenge II

…changes but *among the same people* quite badly for small and irregular changes. This finding points to the need for refinements of models based on forward-looking expectations (like costly information

The Time I Offered to Bet $10,000

…expects to lose, it’s not a bad idea to bet against him. His information is likely better than yours, and his “tell” is showing. So when one of the salespeople,…