4 edition of Uncertainty and Expectations in Economics found in the catalog.
Uncertainty and Expectations in Economics
by A. M. Kelley
Written in English
|Contributions||G. L. S. Shackle (Editor), J. L. Carter (Editor), Charles Frederick Carter (Editor), J. L. Ford (Editor)|
|The Physical Object|
|Number of Pages||299|
Uncertain Futures Imaginaries, Narratives, and Calculation in the Economy Edited by Jens Beckert and Richard Bronk. Suggests alternative microfoundations for economics in conditions of uncertainty to replace the rational expectations hypothesis; Focuses on use of narratives in empirical economic settings. In Narrative Economics: How Stories Go Viral and Drive Major Economic Events, Robert J. Shiller argues for the significance of narrative when it comes to understanding the drivers of economic events, arguing that contagious narratives not only play a causal role in their unfolding but also that such events transform our narratives. The book raises important issues, writes David .
Uncertainty and expectations in economics; essays in honour of G. L. S. Shackle. Publication date Topics Shackle, G. L. S. (George Lennox Sharman), , Decision-making, Risk, Uncertainty Borrow this book to access EPUB and PDF files. IN COLLECTIONS. Books to Borrow. Books for People with Print : Uncertainty, Expectations, and Financial Instability Barthalon recasts Allais's work as a general theory of "expectations" under uncertainty, narrowing the gap between economic theory and investors' behavior. this book will be invaluable to researchers working in macreconomics, financial economics, behavioral finance, decision theory.
The rational expectations revolution and other developments in economics (notably game theory) have fundamentally altered the application of optimal control theory to economic forecasting and planning. In particular, they have shown that economic systems cannot be modelled simplistically on physical systems. However, as the authors of this volume show, these developments have . The post-war developments in labor economics, introduction to overlapping generation models, and measurement of expectations and direct tests of the REH are also elaborated. This monograph likewise covers the dynamic econometric modeling of decisions under uncertainty and fundamental bordered matrix of linear estimation.
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The jury of the Maurice Allais prize in economic science has nominated a seasoned investment professional, Eric Barthalon, for his book, Uncertainty, Expectations, and Financial e Allais has constantly sought to bring economic theory as close as possible to empirical observations; fostering communication between practitioners and.
The uncertainty principle in economics leads directly to the theory of rational expectations. Just as the uncertainty principle in physics is consistent with the probabilistic predictions of quantum mechanics (there is a 20% chance this particle will appear in this location with this speed) so the uncertainty principle in economics is Author: David K.
Levine. Uncertainty and expectations in economics: essays in honour of Uncertainty and Expectations in Economics book. Shackle George Lennox Sharman Shackle, Charles Frederick Carter, J. Ford A. Kelley, - Business & Economics - pages.
Uncertainty and expectations in economics: essays in honour of G. Shackle; [Carter, Charles Frederick, Ford, J.L.] on *FREE* shipping on qualifying Author: Charles Frederick Carter.
Uncertainty, Expectations, and Financial Instability is broken into four parts: a history of the development of expectations in economics, an explanation of Allais’s theory of expectations, the application of the Allais framework for analyzing financial markets, and the use of the Allais formulation and theories in explaining financial.
Optimal Control, Expectations and Uncertainty: Economics Books @ Skip to main content. Try Prime EN Hello, Sign in Account & Lists Sign in Account & Lists Returns & Orders Try Prime Cart. Books. Go Search Hello Select your address Cited by: Get this from a library. Uncertainty and expectations in economics: essays in honour of G.L.S.
Shackle. [G L S Shackle; Charles Frederick Carter; J L Ford;]. ISBN: OCLC Number: Description: ix, pages portrait 23 cm: Contents: Introduction / C.F. Carter, J.L. Ford --Optimality criterion for decision-making under ignorance / Kenneth J.
Arrow, Leonid Hurwicz --Expectations, uncertainty and investments in human beings / Mary Jean Bowman --On degrees Shackle: or, the making of business. The topics discussed include the effects of information and transaction costs on informational and allocative market efficiency, bubbles and stock price dynamics, paradox of rational expectations and the principle of limited information, uncertainty and expectation hypotheses, oil price dynamics, and nonlinearity in asset price dynamics.
The following is an interview with Eric Barthalon, author of Uncertainty, Expectations, and Financial Instability: Reviving Allais’s Lost Theory of Psychological Time.
Question: What is your book about. Eric Barthalon: Uncertainty, Expectations and Financial Instability is about what we call “expectations” and the pro-cyclical responses they trigger.
Written by Lars Peter Hansen (Nobel Laureate in Economics, ) and Thomas Sargent (Nobel Laureate in Economics, ), 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.
Expectations about the future are critical in economics, and they have long been central to the Post Keynesian construction of economics.
We have already seen evidence of this in Chapter 5 which dealt with the Keynesian theory of aggregate by: Notes for a Course in Development Economics. This book covers the following topics: The Calibration Game, Expectations and Multiple Equilibrium, History Versus Expectations, The Dynamics of Inequality, Polarization and Conflict, Inequality and Incentives, Inequality and Growth, Credit Markets, Interlinked Contracts, Credit Policy.
Rational expectations captures the uncertainty principle in economics: your behavior depends on the theories you believe. In this post I want to elaborate on the relevance of these ideas. A simple example illustrates the connection between rational expectations and the uncertainty : David K.
Levine. 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 : Springer-Verlag Berlin Heidelberg.
About this book Introduction The topics discussed include the effects of information and transaction costs on informational and allocative market efficiency, bubbles and stock price dynamics, paradox of rational expectations and the principle of limited information, uncertainty and expectation hypotheses, oil price dynamics, and nonlinearity in.
Read "Uncertainty, Expectations, and Financial Instability Reviving Allais's Lost Theory of Psychological Time" by Eric Barthalon available from Rakuten Kobo. Eric Barthalon applies the neglected theory of psychological time and memory decay of Brand: Columbia University Press.
Uncertainty as many faces in contemporary economics. These different faces emerged since the s. They are the consequence of an historical debate Author: Julia Köhn. The jury of the Maurice Allais prize in economic science has nominated a seasoned investment professional, Eric Barthalon, for his book, Uncertainty, Expectations, and Financial Instability.
Maurice Allais has constantly sought to bring economic theory as close as possible to empirical observations; fostering communication between Pages: Uncertainty, Expectations, and Financial Instability Book Description: Eric Barthalon applies the neglected theory of psychological time and memory decay of Nobel Prize--winning economist Maurice Allais () to model investors' psychology in the present context of recurrent financial crises.
economics. It shows that uncertainty is a powerful concept that not only helps. Through applying a concise uncertainty paradigm, the book sheds new. The topics discussed include the effects of information and transaction costs on informational and allocative market efficiency, bubbles and stock price dynamics, paradox of rational expectations and the principle of limited information, uncertainty and expectation hypotheses, oil price dynamics, and nonlinearity in asset price : Fredj Jawadi.
Higher uncertainty about future retirement benefits leads to higher expectations bias and a higher likelihood of overestimating future benefits, Prados and Kapteyn found. They warn that choices based on subjective expectations about future retirement benefits can lead to high consumption during the working years, and too little asset accumulation.