Robustness
Thomas J. Sargent, Lars Peter Hansen
Language: English
Published by Princeton University Press, US, 2016
- Softcover
- New
Seller: Rarewaves.com UK, London, United KingdomRarewaves.com UK
AbeBooks seller since June 11, 2025
Condition: New
£ 45.46
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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.
Seller Inventory # LU-9780691170978
- Title
- Robustness
- Author
- Thomas J. Sargent, Lars Peter Hansen
- Publisher
- Princeton University Press, US
- Publication year
- 2016
- Condition
- New
- Binding
- Paperback
- Language
- English
- ISBN 10
- 0691170975
- ISBN 13
- 9780691170978
- Item weight
- 765 grams
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.
"Synopsis" may belong to another edition of this title.
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"About the title" may belong to another edition of this title.
Rarewaves.com UK
London, United Kingdom
AbeBooks seller since June 11, 2025
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