In economic situations where action entails a fixed cost, inaction is the norm. Action is taken infrequently, and adjustments are large when they occur. Interest in economic models that exhibit ''lumpy'' behavior of this kind has exploded in recent years, spurred by growing evidence that it is typical in many important economic decisions, including price setting, investment, hiring, durable goods purchases, and portfolio management. In The Economics of Inaction , leading economist Nancy Stokey shows how the tools of ...
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In economic situations where action entails a fixed cost, inaction is the norm. Action is taken infrequently, and adjustments are large when they occur. Interest in economic models that exhibit ''lumpy'' behavior of this kind has exploded in recent years, spurred by growing evidence that it is typical in many important economic decisions, including price setting, investment, hiring, durable goods purchases, and portfolio management. 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. This authoritative book will be essential reading for graduate students and researchers in macroeconomics.
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Add this copy of The Economics of Inaction: Stochastic Control Models to cart. $67.23, good condition, Sold by HPB-Red rated 5.0 out of 5 stars, ships from Dallas, TX, UNITED STATES, published 2008 by Princeton University Press.
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Add this copy of The Economics of Inaction: Stochastic Control Models to cart. $80.06, good condition, Sold by Anybook rated 4.0 out of 5 stars, ships from Lincoln, UNITED KINGDOM, published 2009 by Princeton University Press.
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This is an ex-library book and may have the usual library/used-book markings inside. This book has hardback covers. In good all round condition. No dust jacket. Please note the Image in this listing is a stock photo and may not match the covers of the actual item, 650grams, ISBN: 0691135053.
Add this copy of The Economics of Inaction to cart. $81.99, new condition, Sold by Paperbackshop rated 4.0 out of 5 stars, ships from Bensenville, IL, UNITED STATES, published 2008 by Princeton University Press.
Add this copy of The Economics of Inaction: Stochastic Control Models to cart. $90.59, new condition, Sold by Ingram Customer Returns Center rated 5.0 out of 5 stars, ships from NV, USA, published 2008 by Princeton University Press.
Add this copy of The Economics of Inaction: Stochastic Control Models to cart. $97.89, new condition, Sold by Ria Christie Books rated 5.0 out of 5 stars, ships from Uxbridge, MIDDLESEX, UNITED KINGDOM, published 2008 by Princeton University Press.
Add this copy of The Economics of Inaction: Stochastic Control Models to cart. $98.18, new condition, Sold by Kennys.ie rated 4.0 out of 5 stars, ships from Galway, IRELAND, published 2008 by Princeton University Press.
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New. 2008. Hardcover. Shows how the tools of stochastic control can be applied to dynamic problems of decision making under uncertainty when fixed costs are present. This book provides a treatment of two types of models, impulse and instantaneous control. It is suitable for graduate students and researchers in macroeconomics. Num Pages: 320 pages, 50 line illus. BIC Classification: KCA. Category: (P) Professional & Vocational; (U) Tertiary Education (US: College). Dimension: 245 x 166 x 24. Weight in Grams: 590......We ship daily from our Bookshop.
