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Item Details
Title: UNCERTAINTY WITHIN ECONOMIC MODELS
By: Lars Peter Hansen, Thomas J. Sargent
Format: Hardback

List price: £155.00
Our price: £139.50
Discount:
10% off
You save: £15.50
ISBN 10: 9814578118
ISBN 13: 9789814578110
Availability: Usually dispatched within 1-3 weeks.
 Delivery rates
Stock: Currently 0 available
Publisher: WORLD SCIENTIFIC PUBLISHING CO PTE LTD
Pub. date: 5 November, 2014
Series: World Scientific Series In Economic Theory 6
Pages: 484
Synopsis: Written by Lars Peter Hansen (Nobel Laureate in Economics, 2013) and Thomas Sargent (Nobel Laureate in Economics, 2011), Uncertainty within Economic Models includes articles adapting and applying robust control theory to problems in economics and finance. This book extends rational expectations models by including agents who doubt their models and adopt precautionary decisions designed to protect themselves from adverse consequences of model misspecification. This behavior has consequences for what are ordinarily interpreted as market prices of risk, but big parts of which should actually be interpreted as market prices of model uncertainty. The chapters discuss ways of calibrating agents' fears of model misspecification in quantitative contexts.
Publication: Singapore
Imprint: World Scientific Publishing Co Pte Ltd
Returns: Returnable
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ECONOMETRIC EVALUATION OF ASSET PRICING MODELS (HB)
ECONOMETRIC EVALUATION OF ASSET PRICING MODELS (HB)
ECONOMETRIC EVALUATION OF ASSET PRICING MODELS (HB)
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