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rational expectation
ra·tion·al ex·pec·ta·tion


noun 
Definition:
 
expectation of rationality in economic agents: the view that economic agents predict future events by using all available information, and do not make mistakes
Encarta® World English Dictionary [North American Edition] © & (P)2009 Microsoft Corporation. All rights reserved. Developed for Microsoft by Bloomsbury Publishing Plc.
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