Time, Ignorance, and Uncertainty in Economic Models

Time, Ignorance, and Uncertainty in Economic Models
Title Time, Ignorance, and Uncertainty in Economic Models PDF eBook
Author Donald W. Katzner
Publisher University of Michigan Press
Pages 502
Release 1998
Genre Business & Economics
ISBN 0472109383

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Formal economic analysis using Shackle's ideas of historical time and nonprobabilistic uncertainty

Ignorance and Uncertainty

Ignorance and Uncertainty
Title Ignorance and Uncertainty PDF eBook
Author Olivier Compte
Publisher Cambridge University Press
Pages 303
Release 2019
Genre Business & Economics
ISBN 1108422020

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Proposes novel methods to incorporate ignorance and uncertainty into economic modeling without complex mathematics.

Robustness

Robustness
Title Robustness PDF eBook
Author Lars Peter Hansen
Publisher Princeton University Press
Pages 453
Release 2016-06-28
Genre Business & Economics
ISBN 0691170975

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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.

Handbook of the Economics of Risk and Uncertainty

Handbook of the Economics of Risk and Uncertainty
Title Handbook of the Economics of Risk and Uncertainty PDF eBook
Author Mark Machina
Publisher Newnes
Pages 897
Release 2013-11-14
Genre Business & Economics
ISBN 0444536868

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The need to understand the theories and applications of economic and finance risk has been clear to everyone since the financial crisis, and this collection of original essays proffers broad, high-level explanations of risk and uncertainty. The economics of risk and uncertainty is unlike most branches of economics in spanning from the individual decision-maker to the market (and indeed, social decisions), and ranging from purely theoretical analysis through individual experimentation, empirical analysis, and applied and policy decisions. It also has close and sometimes conflicting relationships with theoretical and applied statistics, and psychology. The aim of this volume is to provide an overview of diverse aspects of this field, ranging from classical and foundational work through current developments. - Presents coherent summaries of risk and uncertainty that inform major areas in economics and finance - Divides coverage between theoretical, empirical, and experimental findings - Makes the economics of risk and uncertainty accessible to scholars in fields outside economics

Entrepreneurial Action

Entrepreneurial Action
Title Entrepreneurial Action PDF eBook
Author Andrew C. Corbett
Publisher Emerald Group Publishing
Pages 327
Release 2012-07-17
Genre Business & Economics
ISBN 1780529015

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Volume 14 addresses the central issue of entrepreneurial action: while many factors are important to the phenomenon of entrepreneurship, entrepreneurship does not happen until someone takes action!

New Keynesian Economics/post Keynesian Alternatives

New Keynesian Economics/post Keynesian Alternatives
Title New Keynesian Economics/post Keynesian Alternatives PDF eBook
Author Roy Jeffrey Rotheim
Publisher Psychology Press
Pages 410
Release 1998
Genre Business & Economics
ISBN 0415123887

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New Keynesian Economics has been the most significant development in economics in recent years. However, many modern thinkers have asked whether it actually builds upon or merely distorts Keynes' work. This unique volume provides the first full-scale critique of the New Keynesian school of thought. Within its pages, Post-Keynesian economists, including many from the United States, challenge New Keynesianism both on the grounds that it is not Keynesian, and does not provide an adequate account of our current economic problems. Sure to provoke much new debate and even controversy, New Keynesian Economicsseeks to reconcile these two seemingly intractable systems.

New Keynesian Economics / Post Keynesian Alternatives

New Keynesian Economics / Post Keynesian Alternatives
Title New Keynesian Economics / Post Keynesian Alternatives PDF eBook
Author Roy Rotheim
Publisher Taylor & Francis
Pages 409
Release 2013-03-07
Genre Business & Economics
ISBN 1134804768

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The New Keynesian Economics has been the most significant development in economics in recent years. Does it actually build upon Keynes' work? In this volume, leading post Keynesian economists challenge New Keynesianism both on the grounds that it is not Keynesian, and does not provide an adequate account of our current economic problems.