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Ignorance and uncertainty

Record Type:	Electronic resources : Monograph/item
Title/Author:	Ignorance and uncertaintyOlivier Compte, Andrew Postlewaite.
Author:	Compte, Olivier.
other author:	Postlewaite, Andrew.
Published:	Cambridge :Cambridge University Press,2019.
Description:	xiv, 287 p. :ill., digital ;24 cm.
Notes:	Title from publisher's bibliographic system (viewed on 11 Dec 2018).
Subject:	EconomicsMathematical models.
Online resource:	https://doi.org/10.1017/9781108379991
ISBN:	9781108379991$q(electronic bk.)

Ignorance and uncertainty
Compte, Olivier.

Ignorance and uncertainty[electronic resource] /Olivier Compte, Andrew Postlewaite. - Cambridge :Cambridge University Press,2019. - xiv, 287 p. :ill., digital ;24 cm. - Econometric society monograph series. - Econometric society monograph series..

Title from publisher's bibliographic system (viewed on 11 Dec 2018).

Born of a belief that economic insights should not require much mathematical sophistication, this book proposes novel and parsimonious methods to incorporate ignorance and uncertainty into economic modeling, without complex mathematics. Economics has made great strides over the past several decades in modeling agents' decisions when they are incompletely informed, but many economists believe that there are aspects of these models that are less than satisfactory. Among the concerns are that ignorance is not captured well in most models, that agents' presumed cognitive ability is implausible, and that derived optimal behavior is sometimes driven by the fine details of the model rather than the underlying economics. Compte and Postlewaite lay out a tractable way to address these concerns, and to incorporate plausible limitations on agents' sophistication. A central aspect of the proposed methodology is to restrict the strategies assumed available to agents.

ISBN: 9781108379991$q(electronic bk.)Subjects--Topical Terms:

182938
Economics
--Mathematical models.

LC Class. No.: HB135 / .C63164 2019

Dewey Class. No.: 330.015195

Ignorance and uncertainty
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245 1 0 $a Ignorance and uncertainty $h [electronic resource] / $c Olivier Compte, Andrew Postlewaite.
260 $a Cambridge : $b Cambridge University Press, $c 2019.
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490 1 $a Econometric society monograph series
500 $a Title from publisher's bibliographic system (viewed on 11 Dec 2018).
520 $a Born of a belief that economic insights should not require much mathematical sophistication, this book proposes novel and parsimonious methods to incorporate ignorance and uncertainty into economic modeling, without complex mathematics. Economics has made great strides over the past several decades in modeling agents' decisions when they are incompletely informed, but many economists believe that there are aspects of these models that are less than satisfactory. Among the concerns are that ignorance is not captured well in most models, that agents' presumed cognitive ability is implausible, and that derived optimal behavior is sometimes driven by the fine details of the model rather than the underlying economics. Compte and Postlewaite lay out a tractable way to address these concerns, and to incorporate plausible limitations on agents' sophistication. A central aspect of the proposed methodology is to restrict the strategies assumed available to agents.
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650 0 $a Decision making $x Mathematical models. $3 190791
650 0 $a Game theory $x Mathematical models. $3 949193
700 1 $a Postlewaite, Andrew. $3 949191
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