Overview

The Routledge Handbook of Economic Expectations in Historical Perspective offers a one-stop reference that distills and summarizes the recent scholarship on economic expectations. Investigating the dynamics, effects, and determinants of economic expectations from a global perspective since the seventeenth century, this book enhances the understanding of expectation formation across time and space. Expectations drive economic decision-making and thus offer a fundamental key to understanding economic behavior. Given the centrality of economics to society, the historical study of economic expectations is a highly relevant endeavor, for which this volume provides an accessible starting point. Featuring 33 chapters written by leading scholars from fields ranging from anthropology to political science, this handbook provides a uniquely interdisciplinary perspective. Together, the collection of essays argues that the development of economic theory and empirical research on expectation formation has not taken place in a vacuum. Rather, it must be understood as one strand in a complex entanglement of knowledge production, experiences, and economic and political decision-making, which interacted with, challenged, and transformed each other. With its broad scope, this handbook will be of interest to students and scholars across multiple disciplines, including economic history, economics, sociology, anthropology, psychology, and political science.

Full Product Details

Author:   Laetitia Lenel ,  Alexander Nützenadel ,  Jochen Streb ,  Ingo Köhler
Publisher:   Taylor & Francis Ltd
Imprint:   Routledge
Weight:   0.453kg
ISBN:  

9781032458601

ISBN 10:   1032458607
Pages:   634
Publication Date:   18 November 2025
Audience:   College/higher education ,  Tertiary & Higher Education
Format:   Hardback
Publisher's Status:   Forthcoming
Availability:   Not yet available  
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Table of Contents

List of Figures List of Tables List of Contributors 01. Introduction Laetitia Lenel/ Jochen Streb/ Alexander Nützenadel/Ingo Köhler PART I Approaches and Debates 02. The Rise of the Rational Expectations Hypothesis Pedro Garcia Duarte 03. A Short History in Defense of Adaptive Learning Stefano Eusepi/Bruce Preston 04. Bounded Rationality, Beliefs, and Behavior Sebastian Schweighofer-Kodritsch 05. Narratives, Representations, and Expectations David Tuckett 06. Heterogeneous Expectations among Professional Forecasters Christian Conrad/Kajal Lahiri 07. Subjective Inflation Expectations of Households: How they are Formed and their Role in Economic Choices Michael Weber/Francesco D’Acunto 08. Contingent Expectations Alexander Nützenadel/Jochen Streb 09. From Data to Expectations in Macroeconomics Jörg Döpke/Ulrich Fritsche 10. On FIRE, News, and Expectations Zeno Enders/Benjamin Born/ Gernot Müller 11. Economic Expectations and an AI Agent Ekaterina Svetlova PART II Practices and Determinants of Expectation Management and Coordination 12. Central Bank Communication with the General Public Lena Dräger 13. Narratives and the Media Henrik Müller 14. Civil Jurisdiction and Regulation Louis Pahlow 15. Beyond Expectations. Consultants as the Modern- Day Oracle Matthias Kipping/Sebastian Schöttler 16. Economic Forecasting Laetitia Lenel/Werner Reichmann 17. Market Research as a Strategy of Corporate Expectation Management Ingo Köhler/Jan Logemann 18. Public Numbers: the Politics of Quantification and Relational Expectations Tiago Mata PART III Expectation Formation Across Time and Space 19. Cultures of Uncertainty and Economic Expectations Eelke de Jong 20. Expectation Formation in Pre-Modern Europe Angela Huang/Mark Spoerer 21. Uncertainty and Innovation: New Perspectives from Nineteenth-Century Patenting Behavior Laura Magazzini/Alessandro Nuvolari/Michelangelo Vasta 22. Expectations in the History of Consumption, c.1500 to the Present Frank Trentmann 23. Saving Behavior in the Nineteenth and Twentieth Centuries Jan-Otmar Hesse/Sebastian Knake/Sibylle Lehmann-Hasemeyer 24. Demographic Decision-Making Under Uncertainty Timothy Guinnane/Jochen Streb 25. Entrepreneurial Expectations in Colonial and Postcolonial Contexts Marie Huber/Nina Kleinöder/Jonathan Krautter 26. African Entrepreneurs and the Economic Expectation Question: A Transhistorical Survey Moses Ochonu PART IV Expectation Formation in Times of Crisis 27. An Unexpected Crisis of Expectations Mary O’Sullivan 28. Expectation Formation in (Potential) Sovereign Debt Crises Laura Rischbieter 29. Monetary Shocks. Business Expectations at the Beginning and End of Two Gold-Based Currency Regimes in the 1870s and 1970s Jan-Otmar Hesse/Sebastian Teupe 30. Sovereign Expectations: Theory and History in the Financial Shocks and Crises of the 1970s and 1980s Sebastian Alvarez and Catherine Schenk 31. Government-Made House Price Bubbles? Austerity, Homeownership, Rental and Credit Liberalization Policies, and “Irrational Exuberance” on Housing Markets Konstantin A. Kholodilin/Sebastian Kohl/Florian Müller 32. The Politics of Expectations in Local Government: (De-)Financialization Processes in the US and Germany Florian Fastenrath/Agnes Janssen/ Christine Trampusch 33. Expectation Formation in the Coronavirus Pandemic Jonas Dovern/Fabian Krüger Index

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Author Information

Laetitia Lenel is Professor of Economic History of the Economic at the University of Duisburg-Essen. Her research brings together the study of economic knowledge practices and economic history. She investigates the history of business forecasting and how societies have grappled with economic turbulence, among other topics. Alexander Nützenadel is Professor of Economic and Social History at Humboldt-Universität zu Berlin. He has published books and articles on the history of economic expectations, banking history, and economic populism. Jochen Streb is Professor of Economic History at the University of Mannheim. His research focuses on historical patent activities in Germany since 1877. He is also an expert on the economic history of the Third Reich and the emergence of social security systems. Ingo Köhler is the Director of the Hessian Economic Archives in Darmstadt, Germany, and an Adjunct Professor of Economic and Social History at the University of Göttingen. His research focuses on business history, marketing history, and corporate resilience studies.

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