The art of smooth pasting
著者
書誌事項
The art of smooth pasting
（Harwood fundamentals of pure and applied economics / editors in chief, J. Lesourne, H. Sonnenschein, 21 . Economic modelling ; 2）
Routledge, 2001
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注記
Reprint. Originally published: Harwood Academic Publishers, 1993. (Fundamentals of pure and applied economics ; v. 55. Stochastic methods in economic analysis section)
Includes bibliographical references (p. 69-70) and index
内容説明・目次
- 巻冊次
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: set ISBN 9780415269353
内容説明
First published in 2002. Routledge is an imprint of Taylor & Francis, an informa company.
目次
T. Palfrey and S. Srivastava Bayesian Implementation A. Dixit The Art of Smooth Pasting
- 巻冊次
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ISBN 9780415269377
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
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