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We study equilibria in which agent's belief are rational in the sense of Kurz 1-1994]. The market is formulated by specifying a stochastic demand function and a continuum of producers, each with a quadratic cost function who must select their output before knowing prices. Holding Rational Beliefs about future prices, producers maximize expected profits. In a Rational Belief Equilibrium (RBE) agents select diverse forecast functions but each one is rational in ~e sense that it is based on adoi:10.1007/bf01213816 fatcat:tkcnsg7pgna53eelfmsfpayasm