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Author : Sean Holly,Andrew Hughes Hallett
Publisher : Cambridge University Press
Page : 258 pages
File Size : 43,8 Mb
Release : 1989-07-20
Category : Business & Economics
ISBN : 9780521264440
An examination of how the rational expectations revolution and game theory have enhanced the understanding of how an economy functions.
Author : Yuanguo Zhu
Publisher : Unknown
Page : 208 pages
File Size : 42,9 Mb
Release : 2019
Category : MATHEMATICS
ISBN : 9811321353
This book introduces the theory and applications of uncertain optimal control, and establishes two types of models including expected value uncertain optimal control and optimistic value uncertain optimal control. These models, which have continuous-time forms and discrete-time forms, make use of dynamic programming. The uncertain optimal control theory relates to equations of optimality, uncertain bang-bang optimal control, optimal control with switched uncertain system, and optimal control for uncertain system with time-delay. Uncertain optimal control has applications in portfolio selection, engineering, and games. The book is a useful resource for researchers, engineers, and students in the fields of mathematics, cybernetics, operations research, industrial engineering, artificial intelligence, economics, and management science.
Author : N.M. Christodoulakis
Publisher : Elsevier
Page : 599 pages
File Size : 53,7 Mb
Release : 2014-06-28
Category : Business & Economics
ISBN : 9781483298825
The Symposium aimed at analysing and solving the various problems of representation and analysis of decision making in economic systems starting from the level of the individual firm and ending up with the complexities of international policy coordination. The papers are grouped into subject areas such as game theory, control methods, international policy coordination and the applications of artificial intelligence and experts systems as a framework in economic modelling and control. The Symposium therefore provides a wide range of important information for those involved or interested in the planning of company and national economics.
Author : Shige Peng
Publisher : Springer Nature
Page : 212 pages
File Size : 54,8 Mb
Release : 2019-09-09
Category : Mathematics
ISBN : 9783662599037
This book is focused on the recent developments on problems of probability model uncertainty by using the notion of nonlinear expectations and, in particular, sublinear expectations. It provides a gentle coverage of the theory of nonlinear expectations and related stochastic analysis. Many notions and results, for example, G-normal distribution, G-Brownian motion, G-Martingale representation theorem, and related stochastic calculus are first introduced or obtained by the author. This book is based on Shige Peng’s lecture notes for a series of lectures given at summer schools and universities worldwide. It starts with basic definitions of nonlinear expectations and their relation to coherent measures of risk, law of large numbers and central limit theorems under nonlinear expectations, and develops into stochastic integral and stochastic calculus under G-expectations. It ends with recent research topic on G-Martingale representation theorem and G-stochastic integral for locally integrable processes. With exercises to practice at the end of each chapter, this book can be used as a graduate textbook for students in probability theory and mathematical finance. Each chapter also concludes with a section Notes and Comments, which gives history and further references on the material covered in that chapter. Researchers and graduate students interested in probability theory and mathematical finance will find this book very useful.
Author : Andrew J. Hughes Hallett,Peter McAdam
Publisher : Springer Science & Business Media
Page : 295 pages
File Size : 41,9 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9781461552192
Macroeconomic Modelling has undergone radical changes in the last few years. There has been considerable innovation in developing robust solution techniques for the new breed of increasingly complex models. Similarly there has been a growing consensus on their long run and dynamic properties, as well as much development on existing themes such as modelling expectations and policy rules. This edited volume focuses on those areas which have undergone the most significant and imaginative developments and brings together the very best of modelling practice. We include specific sections on (I) Solving Large Macroeconomic Models, (II) Rational Expectations and Learning Approaches, (III) Macro Dynamics, and (IV) Long Run and Closures. All of the contributions offer new research whilst putting their developments firmly in context and as such will influence much future research in the area. It will be an invaluable text for those in policy institutions as well as academics and advanced students in the fields of economics, mathematics, business and government. Our contributors include those working in central banks, the IMF, European Commission and established academics.
Author : Jati Sengupta,Phillip Fanchon
Publisher : Springer Science & Business Media
Page : 265 pages
File Size : 42,5 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9781461562856
Control theory methods in economics have historically developed over three phases. The first involved basically the feedback control rules in a deterministic framework which were applied in macrodynamic models for analyzing stabilization policies. The second phase raised the issues of various types of inconsistencies in deterministic optimal control models due to changing information and other aspects of stochasticity. Rational expectations models have been extensively used in this plan to resolve some of the inconsistency problems. The third phase has recently focused on the various aspects of adaptive control. where stochasticity and information adaptivity are introduced in diverse ways e.g .• risk adjustment and risk sensitivity of optimal control, recursive updating rules via Kalman filtering and weighted recursive least squares and variable structure control methods in nonlinear framework. Problems of efficient econometric estimation of optimal control models have now acquired significant importance. This monograph provides an integrated view of control theory methods, synthesizing the three phases from feedback control to stochastic control and from stochastic control to adaptive control. Aspects of econometric estimation are strongly emphasized here, since these are very important in empirical applications in economics.
Author : H.W. Gottinger
Publisher : Springer Science & Business Media
Page : 356 pages
File Size : 51,6 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9781461554356
7. 2 Cumulative Pollutants and the Rate of Economic Growth 217 7. 3 Economic Growth in an Unregulated Economy 223 7. 4 Economic Growth in a Degrading Economy 231 7. 5 Economic Growth in the Spaceship Economy 237 7. 6 Dynamic Equilibrium in the Spaceship Economy 248 7. 7 An Evaluation of the Model and some Conclusions 254 7. 8 Some Long-Term Implications of the Model 256 References 258 Chapter 8: Optimal Economic Growth when CO Constraints are Critical 2 8. 1 Introduction 259 8. 2 Formulation of the Problem 260 8. 3 Derivation of the Necessary Conditions 264 8. 4 Analysis of the Necessary Conditions 265 8. 5 Conclusion 277 References 279 Chapter 9: Uncertainty. Value of Information and Greenhouse Gas Emissions 9. 1 Introduction 280 9. 2 An Illustrative Example - Evaluating a Climate Research and Monitoring Programme 282 293 9. 3 The Value of Information in a Stochastic Dynamic Programme 301 9. 4 Optimal Policies in a Stochastic Dynamic Programme 307 9. 5 Resource Costs and Critical Probabilities 9. 6 Conclusions 314 317 References 319 Epilogue 325 Index viii Preface The movement of carbon from sources to final disposition is known as the carbon cycle. The largest reservoir of carbon is in carbonate sediments such as limestone and chalk. Other significant but less stable reservoirs include fossil fuels, living and dead plants and animals, carbonates and bicarbonates dissolved in the ocean.
Author : David A. Kendrick,P. Ruben Mercado,Hans M. Amman
Publisher : Princeton University Press
Page : 449 pages
File Size : 47,5 Mb
Release : 2011-10-23
Category : Business & Economics
ISBN : 9781400841349
The ability to conceptualize an economic problem verbally, to formulate it as a mathematical model, and then represent the mathematics in software so that the model can be solved on a computer is a crucial skill for economists. Computational Economics contains well-known models--and some brand-new ones--designed to help students move from verbal to mathematical to computational representations in economic modeling. The authors' focus, however, is not just on solving the models, but also on developing the ability to modify them to reflect one's interest and point of view. The result is a book that enables students to be creative in developing models that are relevant to the economic problems of their times. Unlike other computational economics textbooks, this book is organized around economic topics, among them macroeconomics, microeconomics, and finance. The authors employ various software systems--including MATLAB, Mathematica, GAMS, the nonlinear programming solver in Excel, and the database systems in Access--to enable students to use the most advantageous system. The book progresses from relatively simple models to more complex ones, and includes appendices on the ins and outs of running each program. The book is intended for use by advanced undergraduates and professional economists and even, as a first exposure to computational economics, by graduate students. Organized by economic topics Progresses from simple to more complex models Includes instructions on numerous software systems Encourages customization and creativity
Author : Pauly Peter
Publisher : World Scientific
Page : 344 pages
File Size : 50,5 Mb
Release : 2018-04-24
Category : Business & Economics
ISBN : 9789813220454
Global econometric models have a long history. From the early 1970s to the present, as modeling techniques have advanced, different modeling paradigms have emerged and been used to support national and international policy making. One purpose of this volume -- based on a conference in recognition of the seminal impact of Nobel Prize winner in Economic Sciences Lawrence R Klein, whose pioneering work has spawned the field of international econometric modeling -- is to survey these developments from today's perspective. A second objective of the volume is to shed light on the wide range of attempts to broaden the scope of modeling on an international scale. Beyond new developments in traditional areas of the trade and financial flows, the volume reviews new approaches to the modeling of linkages between macroeconomic activity and individual economic units, new research on the analysis of trends in income distribution and economic wellbeing on a global scale, and innovative ideas about modeling the interactions between economic development and the environment. With the expansion of elaborated economic linkages, this volume makes an important contribution to the evolving literature of global econometric models.
Author : David A. Currie,Paul Levine
Publisher : Cambridge University Press
Page : 441 pages
File Size : 45,9 Mb
Release : 1993-08-12
Category : Business & Economics
ISBN : 9780521441964
In this book David Currie and Paul Levine address a broad range of issues concerning the design and conduct of macroeconomic policy in open economies. Adopting neo-Keynesian models for which monetary and fiscal policy have short-term real effects, they analyse active stabilisation policies in both a single- and multi-country context. Questions addressed include: the merits of simple policy rules, policy design in the face of uncertainty and international policy coordination. A central feature of the book is the treatment of credibility and the effect of a policy-maker's reputation for sticking to announced policies. These considerations are integrated with coordination issues to produce a unique synthesis. The volume develops optimal control methods and dynamic game theory to handle relationships between governments and a conscious rational private sector and produces a unified, coherent approach to the subject. This book will be of interest to students and teachers of open economy macroeconomics and to professional economists interested in using macroeconomic models to design policy.
Author : Robert Trappl
Publisher : World Scientific
Page : 1130 pages
File Size : 55,8 Mb
Release : 1990-03-01
Category : Electronic
ISBN : 9789814611626
Contents:How Many "Demons" Do We Need? Endophysical Self-Creation of Material Structures and the Exophysical Mystery of Universal Libraries (G Kampis & O E Rössler)Some Implications of Re-Interpretation of the Turing Test for Cognitive Science and Artificial Intelligence (G Werner)Why Economic Forecasts will be Overtaken by the Facts (J D M Kruisinga)Simulation Methods in Peace and Conflict Research (F Breitenecker et al)Software Development Paradigms: A Unifying Concept (G Chroust)Hybrid Hierarchies: A Love-Hate Relationship Between ISA and SUPERC (D Castelfranchi & D D'Aloisi)AI for Social Citizenship: Towards an Anthropocentric Technology (K S Gill)Organizational Cybernetics and Large Scale Social Reforms in the Context of Ongoing Developments (E Bekjarov & A Athanassov)China's Economic Reform and its Obstacles: Challenges to a Large-Scale Social Experiment (J Hu & X Sun)Comparing Conceptual Systems: A Strategy for Changing Values as well as Institutions (S A Umpleby)and others Readership: Researchers in the fields of cybernetics and systems, artificial intelligence, economics and mathematicians.
Author : Reinhard Neck,Christian Richter,Peter Mooslechner
Publisher : Springer Science & Business Media
Page : 386 pages
File Size : 54,5 Mb
Release : 2008-03-04
Category : Political Science
ISBN : 9783540746843
Econometric techniques and models are still being extensively used in the business of forecasting and policy advice. This book presents recent advances in the theory and applications of quantitative economic policy, with particular emphasis on fiscal and monetary policies in a European and global context. The volume honors Andrew Hughes Hallett, a pioneer and major scientist in quantitative economic policy analysis, whose contributors are among his friends and former students.
Author : Alex Lazinica,Carlos Tavares Calafate
Publisher : BoD – Books on Demand
Page : 544 pages
File Size : 53,9 Mb
Release : 2009-10-01
Category : Computers
ISBN : 9789533070070
The widespread deployment and use of Information Technologies (IT) has paved the way for change in many fields of our societies. The Internet, mobile computing, social networks and many other advances in human communications have become essential to promote and boost education, technology and industry. On the education side, the new challenges related with the integration of IT technologies into all aspects of learning require revising the traditional educational paradigms that have prevailed for the last centuries. Additionally, the globalization of education and student mobility requirements are favoring a fluid interchange of tools, methodologies and evaluation strategies, which promote innovation at an accelerated pace. Curricular revisions are also taking place to achieved a more specialized education that is able to responds to the societys requirements in terms of professional training. In this process, guaranteeing quality has also become a critical issue. On the industrial and technological side, the focus on ecological developments is essential to achieve a sustainable degree of prosperity, and all efforts to promote greener societies are welcome. In this book we gather knowledge and experiences of different authors on all these topics, hoping to offer the reader a wider view of the revolution taking place within and without our educational centers. In summary, we believe that this book makes an important contribution to the fields of education and technology in these times of great change, offering a mean for experts in the different areas to share valuable experiences and points of view that we hope are enriching to the reader. Enjoy the book!
Author : H. Kent Baker,Leigh A. Riddick
Publisher : Oxford University Press
Page : 701 pages
File Size : 42,7 Mb
Release : 2013-01-17
Category : Business & Economics
ISBN : 9780199754656
Understanding the current state of affairs and tools available in the study of international finance is increasingly important as few areas in finance can be divorced completely from international issues. International Finance reflects the new diversity of interest in international finance by bringing together a set of chapters that summarizes and synthesizes developments to date in the many and varied areas that are now viewed as having international content. The book attempts to differentiate between what is known, what is believed, and what is still being debated about international finance. The survey nature of this book involves tradeoffs that inevitably had to be made in the process given the vast footprint that constitutes international finance. No single book can cover everything. This book, however, tries to maintain a balance between the micro and macro aspects of international finance. Although each chapter is self-contained, the chapters form a logical whole that follows a logical sequence. The book is organized into five broad categories of interest: (1) exchange rates and risk management, (2) international financial markets and institutions, (3) international investing, (4) international financial management, and (5) special topics. The chapters cover market integration, financial crisis, and the links between financial markets and development in some detail as they relate to these areas. In each instance, the contributors to this book discuss developments in the field to date and explain the importance of each area to finance as a field of study. Consequently, the strategic focus of the book is both broad and narrow, depending on the reader's needs. The entire book provides a broad picture of the current state of international finance, but a reader with more focused interests will find individual chapters illuminating on specific topics.
Author : J. Hadjigeorgiou,A.K. Mehmotra,R. Poulin,R.K. Singhal
Publisher : CRC Press
Page : 1150 pages
File Size : 40,5 Mb
Release : 1995-10-31
Category : Technology & Engineering
ISBN : 9054105690
This text presents about 150 papers based on an international symposium on mine planning and equipment selection, held in Canada in 1995. Coverage includes: design and planning of surface and underground mines; surface mining and the environment; tailings disposal; and slope stability analysis.