Biconvergent Stochastic Dynamic Programming

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Biconvergent Stochastic Dynamic Programming

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Author : Hiroyuki Ozaki
language : en
Publisher:
Release Date : 1992

Biconvergent Stochastic Dynamic Programming written by Hiroyuki Ozaki and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with categories.

Dynamic Asset Pricing Theory

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Author : Darrell Duffie
language : en
Publisher: Princeton University Press
Release Date : 2010-01-27

Dynamic Asset Pricing Theory written by Darrell Duffie and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-01-27 with Business & Economics categories.

This is a thoroughly updated edition of Dynamic Asset Pricing Theory, the standard text for doctoral students and researchers on the theory of asset pricing and portfolio selection in multiperiod settings under uncertainty. The asset pricing results are based on the three increasingly restrictive assumptions: absence of arbitrage, single-agent optimality, and equilibrium. These results are unified with two key concepts, state prices and martingales. Technicalities are given relatively little emphasis, so as to draw connections between these concepts and to make plain the similarities between discrete and continuous-time models. Readers will be particularly intrigued by this latest edition's most significant new feature: a chapter on corporate securities that offers alternative approaches to the valuation of corporate debt. Also, while much of the continuous-time portion of the theory is based on Brownian motion, this third edition introduces jumps--for example, those associated with Poisson arrivals--in order to accommodate surprise events such as bond defaults. Applications include term-structure models, derivative valuation, and hedging methods. Numerical methods covered include Monte Carlo simulation and finite-difference solutions for partial differential equations. Each chapter provides extensive problem exercises and notes to the literature. A system of appendixes reviews the necessary mathematical concepts. And references have been updated throughout. With this new edition, Dynamic Asset Pricing Theory remains at the head of the field.

Handbook Of Utility Theory

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Author : Salvador Barbera
language : en
Publisher: Springer Science & Business Media
Release Date : 1998

Handbook Of Utility Theory written by Salvador Barbera and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Business & Economics categories.

The standard rationality hypothesis implies that behaviour can be represented as the maximization of a suitably restricted utility function. This hypothesis lies at the heart of a large body of recent work in economics, of course, but also in political science, ethics, and other major branches of social sciences. Though the utility maximization hypothesis is venerable, it remains an area of active research. Moreover, some fundamental conceptual problems remain unresolved, or at best have resolutions that are too recent to have achieved widespread understanding among social scientists. The main purpose of the Handbook of Utility Theory is to make recent developments in the area more accessible. The editors selected a number of specific topics, and invited contributions from researchers whose work had come to their attention. Therefore, the list of topics and contributions is largely the editors' responsibility. Each contributor's chapter has been refereed, and revised according to the referees' remarks. This is the first volume of a two volume set, with the second volume focusing on extensions of utility theory.

Handbook On Optimal Growth 1

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Author : Rose-Anne Dana
language : en
Publisher: Springer Science & Business Media
Release Date : 2006-07-01

Handbook On Optimal Growth 1 written by Rose-Anne Dana and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-07-01 with Business & Economics categories.

The problem of e?cient or optimal allocation of resources is a fundamental concern of economic analysis. The theory of optimal economic growth can be viewedasanaspectofthiscentraltheme,whichemphasizesingeneraltheissues arising in the allocation of resources over an in?nite time horizon, and in p- ticular the consumption-investment decision process in models in which there is no natural ”terminal date”. This broad scope of ”optimal growth theory” is one which has evolved over time, as economists have discovered new interp- tations of its central results, as well as new applications of its basic methods. The purpose of this handbook is to provide surveys of some signi?cant results of the theory of optimal growth,as well as the techniques of dynamic optimi- tion theory on which they are based. Armed with the results and methods of this theory, a researcher should be in an advantageous position to apply these versatile methods of analysis to new issues in the area of dynamic economics, as well as to contribute to the further development of the mathematical te- niques of optimization over time. The survey included in this volume all have as a common starting point the seminal contribution of Frank Ramsey (1928).

Ssri

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Author :
language : en
Publisher:
Release Date : 1991

Ssri written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Social sciences categories.

Advances In Economic Theory Volume 2

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Author : Econometric Society. World Congress
language : en
Publisher: Cambridge University Press
Release Date : 1992

Advances In Economic Theory Volume 2 written by Econometric Society. World Congress and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Business & Economics categories.

This book gives the reader a unique survey of the most recent advances in economic theory.

Economics Of Pessimism And Optimism

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Author : Kiyohiko G. Nishimura
language : en
Publisher: Springer
Release Date : 2017-11-13

Economics Of Pessimism And Optimism written by Kiyohiko G. Nishimura and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-11-13 with Business & Economics categories.

This is the first book to investigate individual’s pessimistic and optimistic prospects for the future and their economic consequences based on sound mathematical foundations. The book focuses on fundamental uncertainty called Knightian uncertainty, where the probability distribution governing uncertainty is unknown, and it provides the reader with methods to formulate how pessimism and optimism act in an economy in a strict and unified way. After presenting decision-theoretic foundations for prudent behaviors under Knightian uncertainty, the book applies these ideas to economic models that include portfolio inertia, indeterminacy of equilibria in the Arrow-Debreu economy and in a stochastic overlapping-generations economy, learning, dynamic asset-pricing models, search, real options, and liquidity preferences. The book then proceeds to characterizations of pessimistic (ε-contaminated) and optimistic (ε-exuberant) behaviors under Knightian uncertainty and people’s inherent pessimism (surprise aversion) and optimism (surprise loving). Those characterizations are shown to be useful in understanding several observed behaviors in the global financial crisis and in its aftermath. The book is highly recommended not only to researchers who wish to understand the mechanism of how pessimism and optimism affect economic phenomena, but also to policy makers contemplating effective economic policies whose success delicately hinges upon people’s mindsets in the market. Kiyohiko Nishimura is Professor at the National Graduate Institute for Policy Studies (GRIPS) and Professor Emeritus and Distinguished Project Research Fellow of the Center for Advanced Research in Finance at The University of Tokyo. Hiroyuki Ozaki is Professor of Economics at Keio University.

Biennial Report Social Systems Research Institute Of The University Of Wisconsin

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Author : University of Wisconsin. Social Systems Research Institute
language : en
Publisher:
Release Date : 1983

Biennial Report Social Systems Research Institute Of The University Of Wisconsin written by University of Wisconsin. Social Systems Research Institute and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1983 with Economics categories.

Vols. for 1969/71-1983/85 include publications index.

Mathematical Reviews

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Author :
language : en
Publisher:
Release Date : 1997

Mathematical Reviews written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Mathematics categories.

Index Of Economic Articles In Journals And Collective Volumes

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Author : American Economic Association
language : en
Publisher:
Release Date : 1990

Index Of Economic Articles In Journals And Collective Volumes written by American Economic Association and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with Economics categories.