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" The economics of inaction : "
Nancy L. Stokey.
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BL
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| Record Number
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1036006
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| Doc. No
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b790376
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| Main Entry
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Stokey, Nancy L.
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| Title & Author
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The economics of inaction : : stochastic control models with fixed costs /\ Nancy L. Stokey.
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| Publication Statement
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Princeton :: Princeton University Press,, ©2009.
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1 online resource (ix, 308 pages) :: illustrations
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| ISBN
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1282158732
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: 140082981X
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: 9781282158733
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: 9781400829811
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0691135053
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9780691135052
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| Bibliographies/Indexes
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Includes bibliographical references (pages 295-302) and index.
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| Contents
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Preface; 1 Introduction; I: Mathematical Preliminaries; II: Impulse Control Models; III: Instantaneous Control Models; IV: Aggregation; References; Index
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| Abstract
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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.
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Brownian movements.
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Econometric models.
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Brownian movements.
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BUSINESS ECONOMICS-- Economics-- Theory.
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Econometric models.
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Econometrische modellen.
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Stochastische modellen.
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| Dewey Classification
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330.01/519233
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| LC Classification
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HB141.S853 2009eb
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| NLM classification
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83.03bcl
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83.03.bcl
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90B05.msc
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93-0291B0291B7093E2060J7090B05msc
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SK 820rvk
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SK 820.rvk
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SK 920rvk
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SK 920.rvk
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