Robustness
Hansen, Lars Peter; Sargent, Thomas J.
Language: English
Published by Princeton University Press, 2007
- Hardcover
- Used
Seller: Goodwill of Greater Milwaukee and Chicago, Racine, WI, U.S.A.Goodwill of Greater Milwaukee and Chicago
AbeBooks seller since September 20, 2024
Condition: Used - Good
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Book is considered to be in good or better condition. The actual cover image may not match the stock photo. Hard cover books may show signs of wear on the spine, cover or dust jacket. Paperback book may show signs of wear on spine or cover as well as having a slight bend, curve or creasing to it. Book should have minimal to no writing inside and no highlighting. Pages should be free of tears or creasing. Stickers should not be present on cover or elsewhere, and any CD or DVD expected with the book is included. Book is not a former library copy.
Seller Inventory # SEWV.0691114420.G
- Title
- Robustness
- Author
- Hansen, Lars Peter; Sargent, Thomas J.
- Publisher
- Princeton University Press
- Publication year
- 2007
- Condition
- good
- Binding
- Hardcover
- Language
- English
- ISBN 10
- 0691114420
- ISBN 13
- 9780691114422
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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