| 书目名称 | Economics of Pessimism and Optimism | | 副标题 | Theory of Knightian | | 编辑 | Kiyohiko G. Nishimura,Hiroyuki Ozaki | | 视频video | | | 概述 | Won the 61st Nikkei Prize for Excellent Books in Economic Science 2018.Is the first economics book to extensively argue pessimism and optimism by focusing on Knightian uncertainty.Includes supplementa | | 图书封面 |  | | 描述 | .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, dynamic asset-pricing models, search, real options, and liquidity preferences. The book then proceeds to characterizations of pessimistic (ε-contaminated) and optimistic (ε-exuberant) behaviors under Knightian uncertainty and people’s inherent pessimism (surprise aversion) and optimism (surprise loving). Those characterizations are shown to be useful in understanding several observed behaviors in the global financial crisis and in its aftermath. Th | | 出版日期 | Book 2017 | | 关键词 | Decision theory; Knightian uncertainty; Optimism; Pessimism; Uncertainty | | 版次 | 1 | | doi | https://doi.org/10.1007/978-4-431-55903-0 | | isbn_softcover | 978-4-431-56725-7 | | isbn_ebook | 978-4-431-55903-0 | | copyright | Springer Japan KK 2017 |
The information of publication is updating
|
|
发表于 2025-3-21 16:42:29
