The Economics of Inaction : : Stochastic Control Models with Fixed Costs / / Nancy L. Stokey.
In economic situations where action entails a fixed cost, inaction is the norm. Action is taken infrequently, and adjustments are large when they occur. Interest in economic models that exhibit ''lumpy'' behavior of this kind has exploded in recent years, spurred by growing evide...
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| Superior document: | Title is part of eBook package: De Gruyter Princeton University Press eBook-Package Backlist 2000-2013 |
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| Place / Publishing House: | Princeton, NJ : : Princeton University Press, , [2008] ©2009 |
| Year of Publication: | 2008 |
| Edition: | Course Book |
| Language: | English |
| Online Access: | |
| Physical Description: | 1 online resource (320 p.) :; 50 line illus. |
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Table of Contents:
- Frontmatter
- Contents
- Preface
- 1. Introduction
- Part I. Mathematical Preliminaries
- Part II. Impulse Control Models
- Part III. Instantaneous Control Models
- Part IV. Aggregation
- A. Continuous Stochastic Processes
- B. Optional Stopping Theorem
- References
- Index