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.
General
Is the information for this product incomplete, wrong or inappropriate?
Let us know about it.
Does this product have an incorrect or missing image?
Send us a new image.
Is this product missing categories?
Add more categories.
Review This Product
No reviews yet - be the first to create one!
Welcome to Loot.co.za!
Sign in / Register |Wishlists & Gift Vouchers |Help | Advanced search
