Robustness
Hansen, Lars Peter; Sargent, Thomas J.
Language: English
Published by Princeton University Press, 2007
- Hardcover
- Used
Seller: YourTechBooks, Bala Cynwyd, PA, U.S.A.YourTechBooks
AbeBooks seller since November 13, 2025
Condition: Used - Very good
US$ 52.00
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Used, like-new, tight spine, no markings, from smoke-free environment.
Seller Inventory # A111
- Title
- Robustness
- Author
- Hansen, Lars Peter; Sargent, Thomas J.
- Publisher
- Princeton University Press
- Publication year
- 2007
- Condition
- Very good
- Dust jacket
- No Jacket
- Binding
- Hardcover
- Language
- English
- ISBN 10
- 0691114420
- ISBN 13
- 9780691114422
- Item weight
- 1,134 grams
- Dimensions
- 3.18 centimeters width by 17.78 centimeters height by 25.4 centimeters depth
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.
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YourTechBooks
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