Name: Uncertainty Within Economic Models - Hansen, Lars Peter (Univ Of Chicago & The National Bureau Of Economic Research, Sargent, Thomas J (New York Univ & Hoover Inst
Price: 201.5 EUR
Author: Hansen, Lars Peter (Univ Of Chicago & The National Bureau Of Economic Research, Sargent, Thomas J (New York Univ & Hoover Inst
ISBN: 9789814578110

Uncertainty Within Economic Models

Hansen, Lars Peter (Univ Of Chicago & The National Bureau Of Economic Research, Sargent, Thomas J (New York Univ & Hoover Inst

Omschrijving

Uncertainty within Economic Models is a collection of papers 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.

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Schrijver: Hansen, Lars Peter (Univ Of Chicago & The National Bureau Of Economic Research, Sargent, Thomas J (New York Univ & Hoover Inst
Titel: Uncertainty Within Economic Models
Uitgever: World Scientific Publishing Co Pte Ltd

Jaar: 2014
Taal: Engels
Pagina's: 484
Gewicht: 839 gr

EAN: 9789814578110
Afmetingen: 229 x 159 x 32 mm
Bindwijze: Hardback

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Uncertainty Within Economic Models

Hansen, Lars Peter (Univ Of Chicago & The National Bureau Of Economic Research, Sargent, Thomas J (New York Univ & Hoover Inst

Omschrijving

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