£34.45

Princeton University Press Robustness

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£41.41 £33.75 £35.42 £37.09 £38.77 £40.44 £42.11 22 February 2026 14 March 2026 03 April 2026 23 April 2026 14 May 2026

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Description

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.

Product Specifications

Format
paperback
Domain
Amazon UK
Release Date
28 June 2016
Listed Since
20 October 2015

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