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Information and Efficiency in Economic Decision (Paperback, Softcover reprint of the original 1st ed. 1985)
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Information and Efficiency in Economic Decision (Paperback, Softcover reprint of the original 1st ed. 1985)
Series: Advanced Studies in Theoretical and Applied Econometrics, 4
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Use of information is basic to economic theory in two ways. As a
basis for optimization, it is central to all normative hypotheses
used in eco nomics, but in decision-making situations it has
stochastic and evolution ary aspects that are more dynamic and
hence more fundamental. This book provides an illustrative survey
of the use of information in econom ics and other decision
sciences. Since this area is one of the most active fields of
research in modern times, it is not possible to be definitive on
all aspects of the issues involved. However questions that appear
to be most important in this author's view are emphasized in many
cases, without drawing any definite conclusions. It is hoped that
these questions would provoke new interest for those beginning
researchers in the field who are currently most active. Various
classifications of information structures and their relevance for
optimal decision-making in a stochastic environment are analyzed in
some detail. Specifically the following areas are illustrated in
its analytic aspects: 1. Stochastic optimization in linear economic
models, 2. Stochastic models in dynamic economics with problems of
time-inc- sistency, causality and estimation, 3. Optimal
output-inventory decisions in stochastic markets, 4. Minimax
policies in portfolio theory, 5. Methods of stochastic control and
differential games, and 6. Adaptive information structures in
decision models in economics and the theory of economic policy."
General
Imprint: |
Springer
|
Country of origin: |
Netherlands |
Series: |
Advanced Studies in Theoretical and Applied Econometrics, 4 |
Release date: |
November 2011 |
First published: |
1985 |
Authors: |
Jati Sengupta
|
Dimensions: |
235 x 155 x 25mm (L x W x T) |
Format: |
Paperback
|
Pages: |
482 |
Edition: |
Softcover reprint of the original 1st ed. 1985 |
ISBN-13: |
978-9401087377 |
Categories: |
Books >
Business & Economics >
Economics >
Econometrics >
General
|
LSN: |
9401087377 |
Barcode: |
9789401087377 |
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