9783540560227 - Minimum Impatience Theorems for Recursive Economic Models (Lecture Notes in Economics and Mathematical Systems, 390) von Sorger, Gerhard (2 Ergebnisse)

Unbekannt. Zustand: Gut. 162 S. This book contributes to the lively discussion about thereasons for and thepossible implications of the occurrenceof non-linear phenomena and chaos indynamic economicsystems. The author takes a fresh look at intertemporaldecision problems and shows how the time preference rate ofthe decision maker relates to the dynamic complexity of theoptimal paths. It turns out that in order to getcomplicated or chaotic optimal paths the decision makerhas to be sufficiently impatient. In this sense, the MinimumImpatience Theorems supplement the existing literature on"turnpike theorems" and global asymptotic stability ofnormative economic systems. The framework in which theresults are derived is a very general dynamic optimizationproblem with recursive (stationary) utility functionals.Both the case where time is a discrete variable and the caseof continuous time models are treated. Sprache: Englisch Gewicht in Gramm: 270.

Softcover. 162 S. Ehem. Bibliotheksexemplar mit Signatur und Stempel. GUTER Zustand, ein paar Gebrauchsspuren. Ex-library with stamp and library-signature. GOOD condition, some traces of use. L07858 354056022X Sprache: Englisch Gewicht in Gramm: 330.