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Author : Menahem E. Yaari
Publisher :
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.:/5 (299 download)
Download or read book A Law of Large Numbers in the Theory of Consumer's Choice Under Uncertainty written by Menahem E. Yaari and published by . This book was released on 1971 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Nicolai J. Foss
Publisher : Taylor & Francis
ISBN 13 : 9780415196390
Total Pages : 344 pages
Book Rating : 4.1/5 (963 download)
Download or read book The Theory of the Firm written by Nicolai J. Foss and published by Taylor & Francis. This book was released on 2000 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Robert E. Lucas
Publisher : U of Minnesota Press
ISBN 13 : 1452908281
Total Pages : 335 pages
Book Rating : 4.4/5 (529 download)
Download or read book Rational Expectations and Econometric Practice written by Robert E. Lucas and published by U of Minnesota Press. This book was released on 1988 with total page 335 pages. Available in PDF, EPUB and Kindle. Book excerpt: Assumptions about how people form expectations for the future shape the properties of any dynamic economic model. To make economic decisions in an uncertain environment people must forecast such variables as future rates of inflation, tax rates, governme.
Author : Hak Choi
Publisher :
ISBN 13 :
Total Pages : 11 pages
Book Rating : 4.:/5 (13 download)
Download or read book The Theory of Large Numbers written by Hak Choi and published by . This book was released on 2016 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper attempts to fulfill three missions: (i) To make the law of large numbers a theory; (ii) To explain the business of casinos and insurance companies; (iii) To expel moral hazard. The law of large numbers, though well established in statistics, is widely ignored in economics. While economists have spent endless time and energy on consumer's behavior on risk, they do not spend much on the seller part. Such sellers operate on the law of large numbers, full stop, they said. But then, why did some go bankrupted? This paper attempts to fill the gap of making the law of large numbers a theory. It will then apply this theory to explain the business of casinos and insurances, and to correct the misunderstanding around “moral hazard.”
Author : Southwest Fisheries Center (U.S.)
Publisher :
ISBN 13 :
Total Pages : 1074 pages
Book Rating : 4.:/5 (318 download)
Download or read book Collected Reprints written by Southwest Fisheries Center (U.S.) and published by . This book was released on 1980 with total page 1074 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jacques H Drèze
Publisher : Springer
ISBN 13 : 1349019895
Total Pages : 271 pages
Book Rating : 4.3/5 (49 download)
Download or read book Allocation under Uncertainty: Equilibrium and Optimality written by Jacques H Drèze and published by Springer. This book was released on 1965-01-01 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Robert Ernest Hall
Publisher : MIT Press
ISBN 13 : 9780262081979
Total Pages : 212 pages
Book Rating : 4.0/5 (819 download)
Download or read book The Rational Consumer written by Robert Ernest Hall and published by MIT Press. This book was released on 1990 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Rational Consumer brings together eight articles that represent key points in the development of Robert Hall's ideas on consumption over the past two decades. Since the late 1960s, Robert Hall's research has had a significant impact on the macroeconomic study of consumer behavior. The Rational Consumer brings together eight articles that represent key points in the development of Hall's ideas on consumption over the past two decades. In his introduction, Hall puts this work into perspective, tying together his ideas and pointing to how consumer behavior should work in the future given what he has discovered.Working within the standard intertemporal models of consumption - the overlapping generations model and the infinite lifetime model - Hall's contributions to methodology have been especially important. Particularly noteworthy was his challenge to the prevalent model in which current consumption was seen as deriving from expected future income. Hall argued that consumption was, instead, based upon the actual present discounted value of future income.ContentsIntroduction - The Allocation of Wealth among the Generations of a Family that Lasts Forever - A Theory of Inheritance - The Dynamic Effects of Fiscal Policy in an Economy with Foresight - Consumption Taxes versus Income Taxes: Implications for Economic Growth - Stochastic Implications of the Life Cycle-Permanent Income Hypothesis: Theory and Evidence - The Sensitivity of Consumption to Transitory Income: Estimates from Panel Data on Households (with Frederic S. Mishkin) - Intertemporal Substitution in Consumption - Survey of Research on the Random Walk of Consumption - The Role of Consumption in Economic Fluctuations
Author : Truman Fassett Bewley
Publisher : CUP Archive
ISBN 13 : 9780521389259
Total Pages : 452 pages
Book Rating : 4.3/5 (892 download)
Download or read book Advances in Economic Theory written by Truman Fassett Bewley and published by CUP Archive. This book was released on 1989-07-28 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: These articles should be helpful to anyone with training in economics.
Author : John Eatwell
Publisher : Springer
ISBN 13 : 1349202150
Total Pages : 321 pages
Book Rating : 4.3/5 (492 download)
Download or read book Allocation, Information and Markets written by John Eatwell and published by Springer. This book was released on 1989-09-21 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an extract from the 4-volume dictionary of economics, a reference book which aims to define the subject of economics today. 1300 subject entries in the complete work cover the broad themes of economic theory. This volume concentrates on the topic of allocation information and markets.
Author : Karl Shell
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.0/5 (531 download)
Download or read book Journal of Economic Theory written by Karl Shell and published by . This book was released on 1990 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : OECD
Publisher : OECD Publishing
ISBN 13 : 9264009957
Total Pages : 424 pages
Book Rating : 4.2/5 (64 download)
Download or read book Policy Issues in Insurance Catastrophic Risks and Insurance written by OECD and published by OECD Publishing. This book was released on 2005-07-06 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt: These conference proceedings present academic analysis, country reports, and financial/insurance company assessments on how to handle losses caused by large-scale catastrophes including terrorism and atmospheric perils.
Author : Pál Révész
Publisher :
ISBN 13 :
Total Pages : 184 pages
Book Rating : 4.3/5 (91 download)
Download or read book The Laws of Large Numbers written by Pál Révész and published by . This book was released on 1968 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Michael Balch
Publisher : North-Holland
ISBN 13 :
Total Pages : 464 pages
Book Rating : 4.3/5 (91 download)
Download or read book Essays on Economic Behavior Under Uncertainty written by Michael Balch and published by North-Holland. This book was released on 1974 with total page 464 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jerry R. Green
Publisher : Academic Press
ISBN 13 : 1483271455
Total Pages : 422 pages
Book Rating : 4.4/5 (832 download)
Download or read book General Equilibrium, Growth, and Trade written by Jerry R. Green and published by Academic Press. This book was released on 2014-05-10 with total page 422 pages. Available in PDF, EPUB and Kindle. Book excerpt: General Equilibrium, Growth, and Trade: Essays in Honor of Lionel McKenzie provides information pertinent to the three main areas of Professor McKenzie's scientific research, namely, international trade, economic growth, and general equilibrium theory. This book highlights the main aspects of McKenzie's work. Organized into three parts encompassing 21 chapters, this book begins with an overview of the regularizing effects of aggregation over nonregular microrelations. This text then examines the theory of a multiperiod monopolist incurring nonseparable labor adjustment costs, which is developed when investment is irreversible. Other chapters consider the behavior of a price-maker in a competitive market as a preliminary step to a more complete analysis of pure competition. This book discusses as well the effects of uncertainty on optimal decisions, which constitutes an increasingly essential area of economic research. The final chapter deals with the general equilibrium macroeconomic model. This book is a valuable resource for economists and economic theorists.
Author : Theodore Tsukahara
Publisher :
ISBN 13 :
Total Pages : 406 pages
Book Rating : 4.E/5 ( download)
Download or read book Behavioral Foundation of the Theory of Consumer Choice Under Uncertainty written by Theodore Tsukahara and published by . This book was released on 1969 with total page 406 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher :
ISBN 13 :
Total Pages : 1300 pages
Book Rating : 4.E/5 ( download)
Download or read book Southern Economic Journal written by and published by . This book was released on 1982 with total page 1300 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contains section : Book reviews.
Author : Itzhak Gilboa
Publisher : Cambridge University Press
ISBN 13 : 052151732X
Total Pages : 216 pages
Book Rating : 4.5/5 (215 download)
Download or read book Theory of Decision Under Uncertainty written by Itzhak Gilboa and published by Cambridge University Press. This book was released on 2009-03-16 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book describes the classical axiomatic theories of decision under uncertainty, as well as critiques thereof and alternative theories. It focuses on the meaning of probability, discussing some definitions and surveying their scope of applicability. The behavioral definition of subjective probability serves as a way to present the classical theories, culminating in Savage's theorem. The limitations of this result as a definition of probability lead to two directions - first, similar behavioral definitions of more general theories, such as non-additive probabilities and multiple priors, and second, cognitive derivations based on case-based techniques.
