A Two-person Dynamic Equilibrium Under Ambiguity - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook A Two-person Dynamic Equilibrium Under Ambiguity write by Larry G. Epstein. This book was released on 2001. A Two-person Dynamic Equilibrium Under Ambiguity available in PDF, EPUB and Kindle.
A Two-Person Dynamic Equilibrium Under Ambiguity
A Two-Person Dynamic Equilibrium Under Ambiguity - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook A Two-Person Dynamic Equilibrium Under Ambiguity write by Larry G. Epstein. This book was released on 2004. A Two-Person Dynamic Equilibrium Under Ambiguity available in PDF, EPUB and Kindle. This paper describes a pure-exchange, continuous-time economy with two heterogeneous agents and complete markets. A novel feature of the economy is that agents perceive some security returns as ambiguous in the sense often attributed to Frank Knight. The equilibrium is described completely in closed-form. In particular, closed-form solutions are obtained for the equilibrium processes describing individual consumption, the interest rate, the market price of uncertainty, security prices and trading strategies. After identifying agents as countries, the model is applied to address the consumption home-bias and equity home-bias puzzles.
Real Options, Ambiguity, Risk and Insurance
Real Options, Ambiguity, Risk and Insurance - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Real Options, Ambiguity, Risk and Insurance write by A. Bensoussan. This book was released on 2013-05-02. Real Options, Ambiguity, Risk and Insurance available in PDF, EPUB and Kindle. Financial engineering has become the focus of widespread media attention as a result of the worldwide financial crisis of recent years. This book is the second in a series dealing with financial engineering from Ajou University in Korea. The main objective of the series is to disseminate recent developments and important issues in financial engineering to graduate students and researchers, and to provide surveys or pedagogical exposition of important published papers in a broad perspective, as well as analyses of important financial news concerning financial engineering research, practices or regulations. Real Options, Ambiguity, Risk and Insurance, comprises 12 chapters and is divided into three parts. In Part I, five chapters deal with real options analysis, which addresses the issue of investment decisions in complex, innovative or risky projects. Part II presents three chapters on ambiguity. The notion of ambiguity is one of the major breakthroughs in the expected utility theory; ambiguity arises as uncertainties cannot be precisely described in the probability space. Part III consists of four chapters devoted to risk and insurance, and covers mutual insurance for non-traded risks, downside risk management, and credit risk in fixed income markets. This volume will be useful to both graduate students and researchers in understanding relatively new areas in economics and finance, as well as challenging aspects of mathematics.
Readings in Formal Epistemology
Readings in Formal Epistemology - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Readings in Formal Epistemology write by Horacio Arló-Costa. This book was released on 2016-06-07. Readings in Formal Epistemology available in PDF, EPUB and Kindle. This volume presents 38 classic texts in formal epistemology, and strengthens the ties between research into this area of philosophy and its neighbouring intellectual disciplines. The editors provide introductions to five subsections: Bayesian Epistemology, Belief Change, Decision Theory, Interactive Epistemology and Epistemic Logic. 'Formal epistemology' is a term coined in the late 1990s for a new constellation of interests in philosophy, the origins of which are found in earlier works of epistemologists, philosophers of science and logicians. It addresses a growing agenda of problems concerning knowledge, belief, certainty, rationality, deliberation, decision, strategy, action and agent interaction – and it does so using methods from logic, probability, computability, decision and game theory. The volume also includes a thorough index and suggestions for further reading, and thus offers a complete teaching and research package for students as well as research scholars of formal epistemology, philosophy, logic, computer science, theoretical economics and cognitive psychology.
Uncertainty in Economic Theory
Uncertainty in Economic Theory - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Uncertainty in Economic Theory write by Itzhak Gilboa. This book was released on 2004. Uncertainty in Economic Theory available in PDF, EPUB and Kindle. "This is the first collection to include chapters on this topic, and it can thus serve as an introduction to researchers who are new to the field as well as a graduate course textbook. With this goal in mind, the book contains survey introductions that are aimed at a graduate level student, and help explain the main ideas, and put them in perspective."--BOOK JACKET.
