Economic theory offers several explanations as to why shifting expectations about future economic activity affect current demand. Abstracting from whether chang

Economic theory offers several explanations as to why shifting expectations about future economic activity affect current demand. Abstracting from whether chang

We assess whether "undue optimism" (Pigou) contributes to business cycle fluctuations. In our analysis, optimism (or pessimism) pertains to total factor product

This is the first book to investigate individual’s pessimistic and optimistic prospects for the future and their economic consequences based on sound mathemat

Dispositional optimism is a personality trait that reflects the generalized expectancy that positive, as opposed to negative, outcomes will occur in the future