The Economics of Inaction
Download or Read eBook The Economics of Inaction PDF written by Nancy L. Stokey and published by Princeton University Press. This book was released on 2009 with total page 321 pages. Available in PDF, EPUB and Kindle.
| Author | : Nancy L. Stokey |
| Publisher | : Princeton University Press |
| Total Pages | : 321 |
| Release | : 2009 |
| ISBN-10 | : 9780691135052 |
| ISBN-13 | : 0691135053 |
| Rating | : 4/5 (52 Downloads) |
Book Synopsis The Economics of Inaction by : Nancy L. Stokey
Book excerpt: In The Economics of Inaction, leading economist Nancy Stokey shows how the tools of stochastic control can be applied to dynamic problems of decision making under uncertainty when fixed costs are present. Stokey provides a self-contained, rigorous, and clear treatment of two types of models, impulse and instantaneous control. She presents the relevant results about Brownian motion and other diffusion processes, develops methods for analyzing each type of problem, and discusses applications to price setting, investment, and durable goods purchases."--Pub. desc.
