Optimal Growth in a Stochastic Environment PDF Download
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Author: Hayne E. Leland
Publisher:
ISBN:
Category : Labor supply
Languages : en
Pages : 46
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Book Description
Author: Hayne E. Leland
Publisher:
ISBN:
Category : Labor supply
Languages : en
Pages : 46
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Book Description
Author: Jin Yoshimura
Publisher: Springer Science & Business Media
ISBN: 3642514839
Category : Science
Languages : en
Pages : 200
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Book Description
The classical theory of natural selection, as developed by Fisher, Haldane, and 'Wright, and their followers, is in a sense a statistical theory. By and large the classical theory assumes that the underlying environment in which evolution transpires is both constant and stable - the theory is in this sense deterministic. In reality, on the other hand, nature is almost always changing and unstable. We do not yet possess a complete theory of natural selection in stochastic environ ments. Perhaps it has been thought that such a theory is unimportant, or that it would be too difficult. Our own view is that the time is now ripe for the development of a probabilistic theory of natural selection. The present volume is an attempt to provide an elementary introduction to this probabilistic theory. Each author was asked to con tribute a simple, basic introduction to his or her specialty, including lively discussions and speculation. We hope that the book contributes further to the understanding of the roles of "Chance and Necessity" (Monod 1971) as integrated components of adaptation in nature.
Author: Fred Espen Benth
Publisher:
ISBN:
Category :
Languages : en
Pages : 10
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Book Description
Author: Jesús Crespo Cuaresma
Publisher: Springer Science & Business Media
ISBN: 3642021328
Category : Business & Economics
Languages : en
Pages : 295
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Book Description
The major goal of the book is to create an environment for matching different d- ciplinary approaches to studying economic growth. This goal is implemented on the basis of results of the Symposium “Applications of Dynamic Systems to E- nomic Growth with Environment” which was held at the International Institute for Applied Systems Analysis (IIASA) on the 7th–8th of November, 2008, within the IIASA Project “Driving Forces of Economic Growth” (ECG). The symposium was organized by coordinators of the ECG project: Jesus Crespo-Cuaresma from IIASA World Population Program, and Tapio Palokangas and Alexander Tarasyev from IIASA Dynamic Systems Program. The book addresses the issues of sustainability of economic growth in a cha- ing environment, global warming and exhausting energy resources, technological change, and also focuses on explanations of signi?cant ?uctuations in countries’ growth rates. The chapters focus on the analysis of historical economic growth - periences in relation to environmental policy, technological change, development of transport infrastructure, population issues and environmental mortality. The book is written in a popular-science style, accessible to any intelligent lay reader. The prime audience for the book is economists, mathematicians and en- neersworkingonproblemsofeconomicgrowthandenvironment.Themathematical part of the book is presented in a rigorous manner, and the detailed analysis is - pected to be of interest to specialists in optimal control and applications to economic modeling. The book consists of four interrelated parts.
Author: Amitrajeet A Batabyal
Publisher: World Scientific
ISBN: 981447407X
Category : Business & Economics
Languages : en
Pages : 254
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Book Description
This book is a collection of Amitrajeet A Batabyal's most important papers on the environment and economic development. It begins with a comprehensive and previously unpublished introductory chapter, followed by 12 chapters on different problems such as land use for agricultural purposes, environmental policy design, flood control, and renewable resource management. This book's uniqueness stems from the fact that it uses novel modeling tools that are largely unfamiliar to economists to shed valuable light on contemporary problems at the interface of the environment and economic development.
Author: Robert Becker
Publisher:
ISBN:
Category : Economic development
Languages : en
Pages : 456
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Book Description
Author: Rose-Anne Dana
Publisher:
ISBN:
Category :
Languages : en
Pages : 138
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Book Description
Author: Jerome L. Stein
Publisher: Oxford University Press, USA
ISBN: 0199280576
Category : Business & Economics
Languages : en
Pages : 305
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Book Description
This book focuses on the interaction between equilibrium real exchange rates, optimal external debt, endogenous optimal growth and current account balances, in a world of uncertainty. The theoretical parts result from interdisciplinary research between economics and applied mathematics. From the economic theory and the mathematics of stochastic optimal control the author derives benchmarks for the optimal debt and equilibrium real exchange rate in an environment where both thereturn on capital and the real rate of interest are stochastic variables. The theoretically derived equilibrium real exchange rate - the "natural real exchange rate" NATREX - is where the real exchange rate is heading. These benchmarks are applied to answer the following questions.* What is a theoretically based empirical measure of a "misaligned" exchange rate that increases the probability of a significant depreciation or a currency crisis?* What is a theoretically based empirical measure of an "excess" debt that increases the probability of or a debt crisis?* What is the interaction between an excess debt and a misaligned exchange rate?The theory is applied to evaluate the Euro exchange rate, the exchange rates of the transition economies, the sustainability of U.S. current account deficits, and derives warning signals of the Asian crises and debt crises in emerging markets.
Author: Patrick Paul Jeanjean
Publisher:
ISBN:
Category :
Languages : en
Pages : 214
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Book Description
Author: Thomas Brenner
Publisher: Springer Science & Business Media
ISBN: 1461550297
Category : Business & Economics
Languages : en
Pages : 392
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Book Description
Computational Techniques for Modelling Learning in Economics offers a critical overview of the computational techniques that are frequently used for modelling learning in economics. It is a collection of papers, each of which focuses on a different way of modelling learning, including the techniques of evolutionary algorithms, genetic programming, neural networks, classifier systems, local interaction models, least squares learning, Bayesian learning, boundedly rational models and cognitive learning models. Each paper describes the technique it uses, gives an example of its applications, and discusses the advantages and disadvantages of the technique. Hence, the book offers some guidance in the field of modelling learning in computation economics. In addition, the material contains state-of-the-art applications of the learning models in economic contexts such as the learning of preference, the study of bidding behaviour, the development of expectations, the analysis of economic growth, the learning in the repeated prisoner's dilemma, and the changes of cognitive models during economic transition. The work even includes innovative ways of modelling learning that are not common in the literature, for example the study of the decomposition of task or the modelling of cognitive learning.
