The Economics of Inaction: Stochastic Control Models with Fixed Costs

The Economics of Inaction: Stochastic Control Models with Fixed Costs

by NancyL.Stokey (Author)

Synopsis

Shows how the tools of stochastic control can be applied to dynamic problems of decision making under uncertainty when fixed costs are present. This book provides a treatment of two types of models, impulse and instantaneous control. It is suitable for graduate students and researchers in macroeconomics.

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More Information

Format: Hardcover
Pages: 322
Publisher: Princeton University Press
Published: 20 Oct 2008

ISBN 10: 0691135053
ISBN 13: 9780691135052