A01=Lars Peter Hansen
A01=Thomas J. Sargent
Age Group_Uncategorized
Age Group_Uncategorized
Algebraic Riccati equation
Ambiguity aversion
Author_Lars Peter Hansen
Author_Thomas J. Sargent
Autocorrelation
automatic-update
Bayesian
Bellman equation
Best
Big O notation
Calculation
Category1=Non-Fiction
Category=KCB
Competitive equilibrium
Conditional expectation
Control theory
COP=United States
Covariance matrix
Decision problem
Decision rule
Decision-making
Delivery_Delivery within 10-20 working days
Detection
Discrete time and continuous time
Dummy variable (statistics)
Dynamic programming
Economic equilibrium
Eigenvalues and eigenvectors
eq_business-finance-law
eq_isMigrated=2
eq_non-fiction
Estimation
Estimation theory
Expected utility hypothesis
Free parameter
Frequency domain
Hyperbolic discounting
Invariant subspace
Kalman filter
Kullback–Leibler divergence
Lagrange multiplier
Language_English
Linear least squares (mathematics)
Linear regulator
Loss function
Lucas critique
Macroeconomics
Marginal rate of substitution
Markov chain
Markov perfect equilibrium
Markov process
Mathematical optimization
Normal distribution
Observational equivalence
Optimal control
Order condition
PA=Available
Parameter
Partial equilibrium
Permanent income hypothesis
Precautionary savings
Preference (economics)
Price_€20 to €50
Probability
Probability distribution
PS=Active
Ramsey problem
Rational expectations
Representative agent
Riccati equation
Risk aversion
Robust control
Robustness
Shadow price
softlaunch
State variable
Stochastic control
Stochastic discount factor
Stochastic process
Sylvester equation
Theorem
Trend stationary
Uncertainty
Unit root test
Utility
worst and average case
Robustness
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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Product Details
- Weight: 765g
- Dimensions: 178 x 254mm
- Publication Date: 28 Jun 2016
- Publisher: Princeton University Press
- Publication City/Country: US
- Language: English
- ISBN13: 9780691170978
About Lars Peter HansenThomas J. Sargent
Lars Peter Hansen is the Homer J. Livingston Distinguished Service Professor in the Department of Economics at the University of Chicago. Thomas J. Sargent is professor of economics at New York University and senior fellow at the Hoover Institution. He is the author of The Conquest of American Inflation and the coauthor of The Big Problem of Small Change (both Princeton).
