The Economics of Inaction 2024 pdf epub mobi 電子書 下載


The Economics of Inaction

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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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The Economics of Inaction 2024 pdf epub mobi 電子書 下載

The Economics of Inaction 2024 pdf epub mobi 電子書 下載

The Economics of Inaction 2024 pdf epub mobi 電子書 下載



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出版者:Princeton University Press
作者:Nancy L. Stokey
出品人:
頁數:320
譯者:
出版時間:2008-10-20
價格:USD 49.50
裝幀:Hardcover
isbn號碼:9780691135052
叢書系列:

圖書標籤: 經濟學  econ  金融  macroeconomics  macro  Economics   


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