| Description |
1 online resource (xviii, 588 pages) : illustrations |
| Contents |
I. The recursive approach. Introduction -- An overview -- -- II. Deterministic models. Mathematical preliminaries -- Dynamic programming under certainty -- Applications of dynamic programming under certainty -- Deterministic dynamics -- -- III. Stochastic models. Measure theory and integration -- Markov processes -- Stochastic dynamic programming -- Applications of stochastic dynamic programming -- Strong convergence of Markov processes -- Weak convergence of Markov processes -- Applications of convergence results for Markov processes -- Laws of large numbers -- -- IV. Competitive equilibrium. Pareto optima and competitive equilibria -- Applications of equilibrium theory -- Fixed-point arguments -- Equilibria in systems with distortions |
| Summary |
This rigorous but brilliantly lucid book presents a self-contained treatment of modern economic dynamics. Stokey, Lucas, and Prescott develop the basic methods of recursive analysis and illustrate the many areas where they can usefully be applied. |
| Bibliography |
Includes bibliographical references (pages 563-573) |
| Notes |
Includes indexes |
|
Description based on print version record |
| Subject |
Economics, Mathematical.
|
|
Recursive functions.
|
| Form |
Electronic book
|
| Author |
Lucas, Robert E., Jr.
|
|
Prescott, Edward C.
|
|
EBSCOhost
|
| ISBN |
9780674735187 electronic bk |
|
0674735188 electronic bk |
|
