The art of smooth pasting
著者
書誌事項
The art of smooth pasting
（Fundamentals of pure and applied economics, v. 55 . Stochastic methods in economic analysis section）
Harwood Academic Publishers, 1993
大学図書館所蔵 件 / 全39件
-
該当する所蔵館はありません
- すべての絞り込み条件を解除する
注記
Includes bibliography (p. 69-70) and index
内容説明・目次
内容説明
This book aims to widen the understanding of stochastic dynamic choice and equilibrium models. It offers a simplified and heuristic exposition of the theory of Brownian motion and its control or regulation, rendering such methods more accessible to economists who do not require a detailed, mathematical treatment of the subject.
The main mathematical ideas are presented in a context which with which economists will be familiar. Using a binomial approach to Brownian motion, the mathematics is reduced to simple algebra, progressing to some equally simple limits. The starting point of the calculus of Brownian motion - 'Ito's Lemma' - emerges by analogy with the economics of risk-aversion. Conditions for the optimal regulation of Brownian motion, including the important, but often mysterious, 'smooth pasting' condition, are derived in a similar way. Each theoretical derivation is illustrated by developing a significant economic application, drawn mainly from recent research in macroeconomics and international economics.
目次
- part The Art of Smooth Pasting, AVINASH DIXIT
- Chapter 1 Brownian Motion
- Chapter 2 Discounted Present Values
- Chapter 3 Barriers
- Chapter 4 Optimal Control and Regulation
- Chapter 5 Generalizations
- Chapter 6 Some Characterization of Optimal Paths
「Nielsen BookData」 より