Robustness Lars Peter Hansen

ISBN: 9781400829385

Published: November 1st 2011

ebook

464 pages


Description

Robustness  by  Lars Peter Hansen

Robustness by Lars Peter Hansen
November 1st 2011 | ebook | PDF, EPUB, FB2, DjVu, talking book, mp3, RTF | 464 pages | ISBN: 9781400829385 | 10.52 Mb

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 theMoreThe 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.



Enter the sum





Related Archive Books



Related Books


Comments

Comments for "Robustness":


keyboardmilitia.com

©2013-2015 | DMCA | Contact us