"Expected outcomes offer no new information. Results that are unexpected challenge orthodox views. While most discrepancies are resolved upon detailed examination, the few that remain have the potential to lead to a new understanding of human behavior. Over the past four decades, I have held a unique position that has allowed me to directly observe how people form and act on their economic expectations as the director of the University of Michigan's consumer sentiment surveys. I initially resisted the startling implications of my observations as they were in inconsistent with accepted theories in economics and psychology"-- Provided by publisher.

Expectations and the macroeconomy -- Conventional theories of expectations -- Private and public sources of economic information -- Processing economic information -- Affective inluences on expectations -- The construction of expectations -- Expectations of macroeconomic cycles -- The measurement of expectations -- Tailored economic expectations -- Economic expectations: paradigms and theories.