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Kiyohiko G. Nishimura - Economics of Pessimism and Optimism: Theory of Knightian Uncertainty and Its Applications - 9784431559016 - V9784431559016
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Economics of Pessimism and Optimism: Theory of Knightian Uncertainty and Its Applications

€ 195.52
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Description for Economics of Pessimism and Optimism: Theory of Knightian Uncertainty and Its Applications Hardcover. Num Pages: 20 black & white illustrations, biography. BIC Classification: KCH; KCK; PBW. Category: (P) Professional & Vocational. Dimension: 235 x 155. .
This is the first book to investigate individual's pessimistic and optimistic prospects for the future and their economic consequences based on sound mathematical foundations. The book focuses on fundamental uncertainty called Knightian uncertainty, where the probability distribution governing uncertainty is unknown, and it provides the reader with methods to formulate how pessimism and optimism act in an economy in a strict and unified way. After presenting decision-theoretic foundations for prudent behaviors under Knightian uncertainty, the book applies these ideas to economic models that include portfolio inertia, indeterminacy of equilibria in the Arrow-Debreu economy and in a stochastic overlapping-generations economy, learning, ... Read more

Product Details

Publisher
Springer
Format
Hardback
Publication date
2017
Condition
New
Number of Pages
326
Place of Publication
Tokyo, Japan
ISBN
9784431559016
SKU
V9784431559016
Shipping Time
Usually ships in 15 to 20 working days
Ref
99-15

About Kiyohiko G. Nishimura
Kiyohiko G. NishimuraKiyohiko G. Nishimura is emeritus professor of economics and distinguished project research fellow at The University of Tokyo and a professor of economics in the National Graduate Institute for Public Policy (GRIPS). Before returning to academia, he was deputy governor of the Bank of Japan for 5 years until March 19, 2013, one of the most turbulent periods ... Read more

Reviews for Economics of Pessimism and Optimism: Theory of Knightian Uncertainty and Its Applications
This book was awarded the 61st Nikkei Prize for Excellent Books in Economic Science 2018 by The Japan Center for Economic Research To summarize, this book, jointly written by the two prominent economists Nishimura and Ozaki, is no doubt a monumental achievement on the economics of ambiguity and uncertainty. It is well organized and mathematically ... Read more

Goodreads reviews for Economics of Pessimism and Optimism: Theory of Knightian Uncertainty and Its Applications


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