Uncertainty Within Economic Models

Name: Uncertainty Within Economic Models
Brand: World Scientific Publishing Co Pte Ltd
SKU: 9789814578110
Price: 4085 CZK
Availability: InStock

Autor: Thomas J. Sargent, Lars Peter Hansen

Jazyk:

Vazba: Pevná

Vydavatel: World Scientific Publishing Co Pte Ltd

Dostupnost: Skladem u dodavatele

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Uncertainty within Economic Models is a collection of papers adapting and applying robust control th...

Informace o knize

Autor

Thomas J. Sargent, Lars Peter Hansen

Jazyk

Angličtina

Vazba

Kniha - Pevná

Vydáno

2014

Stránek

484

EAN

9789814578110

ISBN

9814578118

Enbook ID

05071206

Vydavatel

World Scientific Publishing Co Pte Ltd

Hmotnost

854

Rozměry

157 x 236 x 30

Kompletní popis

Uncertainty within Economic Models is a collection of papers adapting and applying robust control theory to problems in economics and finance. This book extends rational expectations models by including agents who doubt their models and adopt precautionary decisions designed to protect themselves from adverse consequences of model misspecification. This behavior has consequences for what are ordinarily interpreted as market prices of risk, but big parts of which should actually be interpreted as market prices of model uncertainty. The chapters discuss ways of calibrating agents' fears of model misspecification in quantitative contexts.

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Uncertainty Within Economic Models

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