The Art of Smooth Pasting

Business & Finance, Business Reference, Economics
Cover of the book The Art of Smooth Pasting by A. Dixit, Taylor and Francis
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: A. Dixit ISBN: 9781317973720
Publisher: Taylor and Francis Publication: November 12, 2013
Imprint: Routledge Language: English
Author: A. Dixit
ISBN: 9781317973720
Publisher: Taylor and Francis
Publication: November 12, 2013
Imprint: Routledge
Language: English

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.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

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.

More books from Taylor and Francis

Cover of the book Indian Foreign Policy by A. Dixit
Cover of the book Queering Families, Schooling Publics by A. Dixit
Cover of the book The International Politics of Fashion by A. Dixit
Cover of the book American Poetry 19th Century 2 by A. Dixit
Cover of the book Ethnobotany by A. Dixit
Cover of the book The Impotency Poem from Ancient Latin to Restoration English Literature by A. Dixit
Cover of the book The World of Animals by A. Dixit
Cover of the book Monetary and Financial Policies in Developing Countries by A. Dixit
Cover of the book Sibling Relationships by A. Dixit
Cover of the book Global Gender Issues in the New Millennium by A. Dixit
Cover of the book Against International Relations Norms by A. Dixit
Cover of the book Essentials of Advanced Macroeconomic Theory by A. Dixit
Cover of the book The Impact of the First World War on International Business by A. Dixit
Cover of the book Phenomenological Approaches to Sport by A. Dixit
Cover of the book Latin American Journalism by A. Dixit
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy