Time, Ignorance, and Uncertainty in Economic Models - 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 Time, Ignorance, and Uncertainty in Economic Models write by Donald W. Katzner. This book was released on 1998. Time, Ignorance, and Uncertainty in Economic Models available in PDF, EPUB and Kindle. Formal economic analysis using Shackle's ideas of historical time and nonprobabilistic uncertainty
Ignorance and Uncertainty
Ignorance and Uncertainty - 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 Ignorance and Uncertainty write by Olivier Compte. This book was released on 2019. Ignorance and Uncertainty available in PDF, EPUB and Kindle. Proposes novel methods to incorporate ignorance and uncertainty into economic modeling without complex mathematics.
The Economics of Time and Ignorance
The Economics of Time and Ignorance - 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 The Economics of Time and Ignorance write by Gerald P O'Driscoll Jnr. This book was released on 2002-09-11. The Economics of Time and Ignorance available in PDF, EPUB and Kindle. The Economics of Time and Ignorance is one of the seminal works in modern Austrian economics. Its treatment of historical time and of uncertainty helped set the agenda for the remarkable revival of work in the Austrian tradition which has led to an ever wider interest in the once heretical ideas of Austrian economics. It is here reprinted with a substantial new introductory essay, outlining the major developments in the area since its original publication a decade ago.
Uncertainty Within Economic Models
Uncertainty Within Economic Models - 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 Within Economic Models write by Lars Peter Hansen. This book was released on 2014. Uncertainty Within Economic Models available in PDF, EPUB and Kindle. "Studying this work in real time taught me a lot, but seeing it laid out in conceptual, rather than chronological, order provides even clearer insights into the evolution of this provocative line of research. Hansen and Sargent are two of the best economists of our time, they are also among the most dedicated teachers in our profession. They have once again moved the research frontier, and with this book provide a roadmap for the rest of us to follow. This is a must-have for anyone interested in modeling uncertainty, ambiguity and robustness."Stanley E ZinWilliam R Berkley Professor of Economics and BusinessLeonard N Stern School of BusinessNew York UniversityWritten by Lars Peter Hansen (Nobel Laureate in Economics, 2013) and Thomas Sargent (Nobel Laureate in Economics, 2011), Uncertainty within Economic Models includes articles 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.
Robustness
Robustness - 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 Robustness write by Lars Peter Hansen. This book was released on 2016-06-28. Robustness available in PDF, EPUB and Kindle. The standard theory of decision making under uncertainty advises the decision maker to form a statistical model linking outcomes to decisions and then to choose the optimal distribution of outcomes. This assumes that the decision maker trusts the model completely. But what should a decision maker do if the model cannot be trusted? Lars Hansen and Thomas Sargent, two leading macroeconomists, push the field forward as they set about answering this question. They adapt robust control techniques and apply them to economics. By using this theory to let decision makers acknowledge misspecification in economic modeling, the authors develop applications to a variety of problems in dynamic macroeconomics. Technical, rigorous, and self-contained, this book will be useful for macroeconomists who seek to improve the robustness of decision-making processes.
