"In models of the use of information by rational agents, it is generally assumed that all will interpret the same signals in the same way. In the extreme case of the ‘rational expectations hypothesis’, it is held that through mere data-gathering, agents will become aware of the basic, underlying structure and mechanisms of the economy. This hypothesis likewise neglects the conceptual framing involved in the perception of data and the theory-bound character of all observation."
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Geoffrey M. Hodgson, "The evolution of capitalism from the perspective of institutional and evolutionary economics" in Capitalism in evolution: Global contensions–East and West (2001).
https://en.wikiquote.org/wiki/Rational_expectations
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Rational expectations
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