Isbn: 9780521264440 - optimal control, expectations and uncertainty (5 Ergebnisse)

Hardcover. Zustand: Very Good. Very good condition hard cover, some wear to cover and spine, internally clean and tidy with unmarked pages, in a good readable condition.

Zustand: Good. A few light scratches and minor shelf wear on jacket, also spine of jacket has slightly faded. Content is fine.

Zustand: New. In English.

Zustand: New. An examination of how the rational expectations revolution and game theory have enhanced the understanding of how an economy functions. Num Pages: 260 pages, Illustrations. BIC Classification: KCB. Category: (P) Professional & Vocational; (U) Tertiary Education (US: College). Dimension: 204 x 159 x 19. Weight in Grams: 550. . 1989. hardcover. . . . . Books ship from the US and Ireland. …

Buch. Zustand: Neu. Druck auf Anfrage Neuware - Printed after ordering - The rational expectations revolution and other developments in economics (notably game theory) have fundamentally altered the application of optimal control theory to economic forecasting and planning. In particular, they have shown that economic systems cannot be modelled simplistically on physical systems. However, as the authors of this volume show, these developments have greatly enhanced our understanding of how an economy functions, and now make it possible for optimal control theory to be applied much more effectively to economic modelling and planning. This book is divided into two parts. The first presents the orthodox framework but extends it to allow for multiplicative uncertainty, risk and non-linearities in the econometric model. The second part looks explicitly at the question of expectations. It provides methods by which forward-looking expectations can be treated jointly with the determination of economic policy. It also examines game-theoretic considerations - where, for instance, policy makers may have incentive to renege on their commitments.…