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"The first and most optimistic response was complete rational expectations econometrics. A rational expectations equilibrium is a likelihood function. Maximize it."
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Exlpore more Expectation quotes
"Expectations were like fine pottery. The harder you held them, the more likely they were to crack."
"Some people won't go the extra mile, and then on their birthday, when no one makes a fuss, they feel neglected and bitter."
"The undertone of miracle focused gospel is that people will want to get something from nothing."
"Expectations create and shape reality."
"Not the action, but the expectation creates results."
"Expectation creates the reality."
"Through our expectations, we violently expand and try to fill the world with our proofs of worth."
"It's now expected of me that I will defy expectation, so I really generally seem to be free to write what I want."
"Live without expectations. Don't set parameters on your life by telling yourself that something can only be enjoyed if it is a certain way. Allow life to surprise you. Keep an open mind and enjoy all of life's treasures."
"Well, I don't like the first bit and I don't know the last bit. So I'm really hoping the middle bit is exceptional."
Explore more quotes by Thomas J. Sargent
"In the 1980s, there were occasions when it made sense to say, 'it is too difficult to maximize the likelihood function, and besides if we do, it will blow our model out of the water.'"
"There was a danger that skeptics and opponents would misread those likelihood ratio tests as rejections of an entire class of models, which of course they were not."
"Lucas attended a conference on rational expectations at the University of Minnesota in the spring of 1973. The day after the conference, I received a call from Pittsburgh."
"The first and most optimistic response was complete rational expectations econometrics. A rational expectations equilibrium is a likelihood function. Maximize it."
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