Robustness is popular PDF and ePub book, written by Lars Peter Hansen in 2016-06-28, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Robustness can be Read Online from any device for your convenience.
Robustness Book PDF Summary
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.
Detail Book of Robustness PDF
- Author : Lars Peter Hansen
- Release : 28 June 2016
- Publisher : Princeton University Press
- ISBN : 9780691170978
- Genre : Business & Economics
- Total Page : 453 pages
- Language : English
- PDF File Size : 20,9 Mb
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