Dynamic Economic Decision Making

Author : John E. Silvia
Publisher : John Wiley & Sons
Page : 400 pages
File Size : 42,5 Mb
Release : 2011-08-09
Category : Business & Economics
ISBN : 9780470920510

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Dynamic Economic Decision Making by John E. Silvia Pdf

A comprehensive analysis of the macroeconomic and financial forces altering the economic landscape Financial decision-making requires one to anticipate how their decision will not only affect their business, but also the economic environment. Unfortunately, all too often, both private and public sector decision-makers view their decisions as one-off responses and fail to see their decisions within the context of an evolving decision-making framework. In Decision-Making in a Dynamic Economic Setting, John Silvia, Chief Economist of Wells Fargo and one of the top 5 economic forecasters according to Bloomberg News and USA Today, skillfully puts this discipline in perspective. Details realistic, decision-making approaches and applications under a broad set of economic scenarios Analyzes monetary policy and addresses the impact of financial regulations Examines business cycles and how to identify economic trends, how to deal with uncertainty and manage risk, the building blocks of growth, and strategies for innovation Decision-Making in a Dynamic Economic Setting details the real-world application of economic principles and financial strategy in making better business decisions.

Author : Herbert Dawid,Jasmina Arifovic
Publisher : Springer Nature
Page : 244 pages
File Size : 48,8 Mb
Release : 2020-12-22
Category : Business & Economics
ISBN : 9783030529703

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Dynamic Analysis in Complex Economic Environments by Herbert Dawid,Jasmina Arifovic Pdf

This book analyses decision-making in dynamic economic environments. By applying a wide range of methodological approaches, combining both analytical and computational methods, the contributors examine various aspects of optimal firm behaviour and relevant policy areas. Topics covered include optimal control, dynamic games, economic decision-making, and applications in finance and economics, as well as policy implications in areas such as pollution regulation. This book is dedicated to Christophe Deissenberg, a well-known and distinguished scholar of economic dynamics and computational economics. It appeals to academics in the areas of optimal control, dynamic games and computational economics as well as to decision-makers working in policy domains such as environmental policy.

Author : Jati Sengupta
Publisher : Springer Science & Business Media
Page : 478 pages
File Size : 40,9 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9789400950535

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Information and Efficiency in Economic Decision by Jati Sengupta Pdf

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.

Author : Martin J. Beckmann
Publisher : Unknown
Page : 164 pages
File Size : 43,8 Mb
Release : 1968
Category : Business & Economics
ISBN : STANFORD:20502703013

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Dynamic Programming of Economic Decisions by Martin J. Beckmann Pdf

Textbook on dynamic programming as methodology of operational research and decision making - covers theoretical aspects, mathematical and research methodology, etc. Bibliographys.

Author : Martin F. Bach
Publisher : Springer Science & Business Media
Page : 155 pages
File Size : 50,7 Mb
Release : 2013-11-11
Category : Business & Economics
ISBN : 9783642864490

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Dynamic Programming of Economic Decisions by Martin F. Bach Pdf

Dynamic Programming is the analysis of multistage decision in the sequential mode. It is now widely recognized as a tool of great versatility and power, and is applied to an increasing extent in all phases of economic analysis, operations research, technology, and also in mathematical theory itself. In economics and operations research its impact may someday rival that of linear programming. The importance of this field is made apparent through a growing number of publications. Foremost among these is the pioneering work of Bellman. It was he who originated the basic ideas, formulated the principle of optimality, recognized its power, coined the terminology, and developed many of the present applications. Since then mathe maticians, statisticians, operations researchers, and economists have come in, laying more rigorous foundations [KARLIN, BLACKWELL], and developing in depth such application as to the control of stochastic processes [HoWARD, JEWELL]. The field of inventory control has almost split off as an independent branch of Dynamic Programming on which a great deal of effort has been expended [ARRoW, KARLIN, SCARF], [WIDTIN] , [WAGNER]. Dynamic Programming is also playing an in creasing role in modem mathematical control theory [BELLMAN, Adap tive Control Processes (1961)]. Some of the most exciting work is going on in adaptive programming which is closely related to sequential statistical analysis, particularly in its Bayesian form. In this monograph the reader is introduced to the basic ideas of Dynamic Programming.

Author : Herbert Dawid,Karl F. Doerner,Gustav Feichtinger,Peter M. Kort,Andrea Seidl
Publisher : Springer
Page : 527 pages
File Size : 53,7 Mb
Release : 2016-09-15
Category : Business & Economics
ISBN : 9783319391205

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Dynamic Perspectives on Managerial Decision Making by Herbert Dawid,Karl F. Doerner,Gustav Feichtinger,Peter M. Kort,Andrea Seidl Pdf

This volume collects research papers addressing topical issues in economics and management with a particular focus on dynamic models which allow to analyze and foster the decision making of firms in dynamic complex environments. The scope of the contributions ranges from daily operational challenges firms face to strategic choices in dynamic industry environments and the analysis of optimal growth paths. The volume also highlights recent methodological developments in the areas of dynamic optimization, dynamic games and meta-heuristics, which help to improve our understanding of (optimal) decision making in a fast evolving economy.

Author : Josef Haunschmied,Vladimir M. Veliov,Stefan Wrzaczek
Publisher : Springer
Page : 321 pages
File Size : 53,6 Mb
Release : 2014-07-08
Category : Mathematics
ISBN : 9783642542480

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Dynamic Games in Economics by Josef Haunschmied,Vladimir M. Veliov,Stefan Wrzaczek Pdf

Dynamic game theory serves the purpose of including strategic interaction in decision making and is therefore often applied to economic problems. This book presents the state-of-the-art and directions for future research in dynamic game theory related to economics. It was initiated by contributors to the 12th Viennese Workshop on Optimal Control, Dynamic Games and Nonlinear Dynamics and combines a selection of papers from the workshop with invited papers of high quality.

Author : John E. Silvia
Publisher : Springer Nature
Page : 469 pages
File Size : 52,7 Mb
Release : 2021-07-31
Category : Business & Economics
ISBN : 9783030762957

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Financial Markets and Economic Performance by John E. Silvia Pdf

Effective decision making requires understanding of the underlying principles of financial markets and economics. Intellectually, economics and financial markets are genetically intertwined although when it comes to popular commentary they are treated separately. In fact, academic economic thinking appears separate from financial market equity strategy in most financial market commentary. Historically, macroeconomics tended to assume away financial frictions and financial intermediation whereas financial economists did not necessarily consider the negative macroeconomic spill overs from financial market outcomes. In more recent years, the economic discipline has gone through a serious self-reflection after the global crisis. This book explores the interplay between financial markets and macroeconomic outcomes with a conceptual framework that combines the actions of investors and individuals. Of interest to graduate students and those professionals working in the financial markets, it provides insight into why market prices move and credit markets interact and what factors participants and policy makers can monitor to anticipate market change and future price paths. ​

Author : Robert E. Hall
Publisher : Princeton University Press
Page : 152 pages
File Size : 41,9 Mb
Release : 2010-02-08
Category : Business & Economics
ISBN : 9781400835263

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Forward-Looking Decision Making by Robert E. Hall Pdf

Individuals and families make key decisions that impact many aspects of financial stability and determine the future of the economy. These decisions involve balancing current sacrifice against future benefits. People have to decide how much to invest in health care, exercise, their diet, and insurance. They must decide how much debt to take on, and how much to save. And they make choices about jobs that determine employment and unemployment levels. Forward-Looking Decision Making is about modeling this individual or family-based decision making using an optimizing dynamic programming model. Robert Hall first reviews ideas about dynamic programs and introduces new ideas about numerical solutions and the representation of solved models as Markov processes. He surveys recent research on the parameters of preferences--the intertemporal elasticity of substitution, the Frisch elasticity of labor supply, and the Frisch cross-elasticity. He then examines dynamic programming models applied to health spending, long-term care insurance, employment, entrepreneurial risk-taking, and consumer debt. Linking theory with data and applying them to real-world problems, Forward-Looking Decision Making uses dynamic optimization programming models to shed light on individual behaviors and their economic implications.

Author : John Denis Hey
Publisher : World Scientific Publishing Company
Page : 0 pages
File Size : 42,8 Mb
Release : 2018
Category : Capital market
ISBN : 9813235802

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Experiments in Economics by John Denis Hey Pdf

This book provides the most important publications of John D Hey over his almost 50-year career in academia, concentrating primarily on his publications in the field of experimental economics. This is a field that has grown dramatically over the last 30 years, and John D Hey has contributed significantly to its growth and development. The papers included in this volume cover the whole range from individual decision making, both static and dynamic under risk and uncertainty, through games, bargaining and auctions, to markets. The author has contributed in all these fields, and has pioneered much new methodology.

Author : Pierre Massotte,Patrick Corsi
Publisher : John Wiley & Sons
Page : 293 pages
File Size : 48,9 Mb
Release : 2020-01-09
Category : Business & Economics
ISBN : 9781119694984

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Complex Decision-Making in Economy and Finance by Pierre Massotte,Patrick Corsi Pdf

Pertinent to modern industry, administration, finance and society, the most pressing issue for firms today is how to reapproach the way we think and work in business. With topics ranging from improving productivity and coaxing economic growth after periods of market inactivity, Complex Decision-Making in Economy and Finance offers pragmatic solutions for dealing with the critical levels of disorder and chaos that have developed throughout the modern age. This book examines how to design complex products and systems, the benefits of collective intelligence and self-organization, and the best methods for handling risks in problematic environments. It also analyzes crises and how to manage them. This book is of benefit to companies and public bodies with regards to saving assets, reviving fortunes and laying the groundwork for robust, sustainable societal dividends. Examples, case studies, practical hints and guidelines illustrate the topics, particularly in finance.

Author : Günter Menges
Publisher : Longman Publishing Group
Page : 260 pages
File Size : 47,5 Mb
Release : 1974
Category : Business & Economics
ISBN : STANFORD:36105036330053

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Economic Decision Making by Günter Menges Pdf

Author : Isabelle Brocas,Juan D. Carrillo
Publisher : Oxford University Press on Demand
Page : 231 pages
File Size : 45,9 Mb
Release : 2004
Category : Business & Economics
ISBN : 0199257221

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The Psychology of Economic Decisions by Isabelle Brocas,Juan D. Carrillo Pdf

Psychologists have a long tradition of studying human behavior, strengths and weaknesses, biases and limitations. Economists have constructed normative frameworks that capture the most important elements of human decision-making and developed powerful tools to determine individual and strategic choices in a variety of situations. Only recently have their strengths been combined and economic models enriched with key ingredients found in psychological studies. This volume covers four ofthe most important themes in this interdisciplinary field: feelings, inconsistencies, limitations and biases. Each chapter contributes to a more comprehensive and accurate modelling and description of human behavior. Its four parts cover: the origins, formation, and evolution of beliefs; consistency, commitment, and intertemporal separability of dynamic choices; attention, preference formation, and risk evaluation in limited cognition; and affective behaviour, specifically the role of emotionsin decision making.

Author : Hassan Qudrat-Ullah,J. Michael Spector,Paal Davidsen
Publisher : Springer
Page : 337 pages
File Size : 47,5 Mb
Release : 2007-09-22
Category : Business & Economics
ISBN : 9783540736653

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Complex Decision Making by Hassan Qudrat-Ullah,J. Michael Spector,Paal Davidsen Pdf

Today's ever more complex world creates challenges for decision makers. This volume reviews the principles underlying complex decision making, the handling of uncertainties in dynamic environments, and the various modeling approaches. Beginning with a discussion of the underlying concepts, theories and empirical evidence, the book gives you a range of practical tools and techniques for decision making in complex environments and systems.

Author : Sisay Asefa
Publisher : Iowa State Press
Page : 134 pages
File Size : 43,5 Mb
Release : 1985
Category : Economic policy
ISBN : UOM:39015049847042

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Economic Decision Making by Sisay Asefa Pdf