Name: Information and Efficiency in Economic Decision (en Inglés)
SKU: 58641885
Price: 195.69 USD
Availability: InStock
Author: SenGupta, Jati
ISBN: 9789401087377

portada Information and Efficiency in Economic Decision (en Inglés)

Information and Efficiency in Economic Decision (en Inglés)

Formato

Libro Físico

Autor

Jati SenGupta

Editorial

Springer

Idioma

Inglés

N° páginas

482

Encuadernación

Tapa Blanda

Dimensiones

23.4x15.6x2.5 cm

Peso

0.69 kg.

ISBN13

9789401087377

Categorías

Econometría
Jardinería

Information and Efficiency in Economic Decision (en Inglés)

Jati SenGupta (Autor) · Springer · Tapa Blanda

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Reseña del libro "Information and Efficiency in Economic Decision (en Inglés)"

Use of information is basic to economic theory in two ways. As a basis for optimization, it is central to all normative hypotheses used in eco- nomics, but in decision-making situations it has stochastic and evolution- ary aspects that are more dynamic and hence more fundamental. This book provides an illustrative survey of the use of information in econom- ics and other decision sciences. Since this area is one of the most active fields of research in modern times, it is not possible to be definitive on all aspects of the issues involved. However questions that appear to be most important in this author's view are emphasized in many cases, without drawing any definite conclusions. It is hoped that these questions would provoke new interest for those beginning researchers in the field who are currently most active. Various classifications of information structures and their relevance for optimal decision-making in a stochastic environment are analyzed in some detail. Specifically the following areas are illustrated in its analytic aspects: 1. Stochastic optimization in linear economic models, 2. Stochastic models in dynamic economics with problems of time-inc- sistency, causality and estimation, 3. Optimal output-inventory decisions in stochastic markets, 4. Minimax policies in portfolio theory, 5. Methods of stochastic control and differential games, and 6. Adaptive information structures in decision models in economics and the theory of economic policy.