The Economics of Inaction: stochastic control models with fixed costs Stokey, Nancy L.

By:

Stokey, Nancy L

Publication details: Princeton University Press 2009 Princeton, New JerseyDescription: ix, 308 pISBN:

9780691135052

Subject(s):

DDC classification:

330.01519233 N2E2

Summary: 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. (http://press.princeton.edu/titles/8766.html)

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Item type	Current library	Collection	Call number	Status	Date due	Barcode	Item holds
Book	Ahmedabad	Non-fiction	330.01519233 N2E2 (Browse shelf(Opens below))	Available		189333

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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. (http://press.princeton.edu/titles/8766.html)

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