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An International Network on Expectational Coordination


This research project addresses in depth the questions of the nature of economic uncertainty, with the aim of revisiting from a new perspective many of the questions that have been raised by the recent crisis both in finance and macroeconomics.

The view of the future held by participating agents is a key determinant of economic activity. Correspondingly, the understanding of expectational coordination is a central question of economic theory. The Rational Expectations Hypothesis, which assumes that economic agents have an unbiased, statistically correct, view of the future, has come to dominate economic modeling and economic thinking from the 1970. However, the Hypothesis, and some of the most influential models that it underlies, have been deeply questioned by the recent economic crisis. Most of the scholars in this international network have in the past pursued research aimed at a critical assessment of the standard modeling of expectational coordination, and so the network confronts and federates the most promising existing lines of present research on the subject. The international network is organized around nodes in North America, (Columbia, New York University, Oregon, Princeton, Stanford), South America (Santiago de Chile), Asia (Beijing, Tokyo), the Middle East, (Jerusalem), and Europe (Amsterdam, Barcelona, Paris, Zurich).