| Description |
1 online resource (ix, 308 pages) : illustrations |
| Bibliography |
Includes bibliographical references (pages 295-302) and index. |
| Summary |
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 evidence that it is typical in many important economic decisions, including price setting, investment, hiring, durable goods purchases, and portfolio management. In The Economics of Inaction, leading economist Nancy Stokey shows how the tools of stochastic control can be applied to dynamic problems of decision making under. |
| Note |
Print version record. |
| Subject |
Econometric models.
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Brownian movements.
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BUSINESS & ECONOMICS -- Economics -- Theory.
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Brownian movements. (OCoLC)fst00839767
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Econometric models. (OCoLC)fst00901567
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Econometrische modellen.
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Stochastische modellen.
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| Other Form: |
Print version: Stokey, Nancy L. Economics of inaction. Princeton : Princeton University Press, ©2009 9780691135052 0691135053 (DLC) 2008062109 (OCoLC)225852519 |
| ISBN |
9781400829811 (electronic bk.) |
|
140082981X (electronic bk.) |
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