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Applied Decision Analysis and Economic Behaviour

  • Book
  • © 1984

Overview

Editors:
  1. A. J. Hughes Hallett
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Part of the book series: Advanced Studies in Theoretical and Applied Econometrics (ASTA, volume 3)

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Table of contents (15 chapters)

  1. Front Matter

    Pages i-ix
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  5. Market Management

    1. Front Matter

      Pages 179-179
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    2. Endogenous Versus Exogenous Price Targets for Commodity Market Stabilisation

      • Bruce L. Dixon, Wu-Hsiung Chen
      Pages 181-207

    3. Simple and Optimal Control Rules for Stabilising Commodity Markets

      • S. Ghosh, C. L. Gilbert, A. J. Hughes Hallett
      Pages 209-248

  6. Decentralisation and Multi-Sector Planning

    1. Front Matter

      Pages 249-249
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    2. Behavioural Assumptions in Decentralised Stabilisation Policies

      • J. W. Neese, R. S. Pindyck
      Pages 251-270

    3. Stability Analysis of Large Scale Economic Systems which have a Multi—Time Scale Property

      • Djordjija B. Petkovski
      Pages 271-288

    4. The Location of a Firm on a Network

      • Pierre Hanjoul, Jacques-François Thisse
      Pages 289-326
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Keywords

About this book

The optimisation of economic systems over time, and in an uncertain environment, is central to the study of economic behaviour. The behaviour of rational decision makers, whether they are market agents, firms, or governments and their agencies, is governed by decisions designed to seeure the best outcomes subject to the perceived information and economic responses (inlcuding those of other agents). Economic behaviour has therefore to be analysed in terms of the outcomes of a multiperiod stochastic optimisation process containing four main components: the economic responses (the dynamic constraints, represented by an economic model); the objec­ tive function (the goals and their priorities); the conditioning information (expected exogenous events and the expected future state of the economy); and risk manage­ ment (how uncertainties are accommodated). The papers presented in this book all analyse some aspect of economic behaviour related to the objectives, information, or risk components of the decision process. While the construction of economic models obviously also has a vital role to play, that component has received much greater (or almost exclusive) attention elsewhere. These papers examine optimising behaviour in a wide range of economic problems, both theoretical and applied. They reflect a variety of concerns: economic responses under rational expectations; the Lucas critique and optimal fiscal or monetary poli­ eies; market management; partly endogenous goals; evaluating government reactions; locational decisions; uncertainty and information structures; and forecasting with endogenous reactions.

Bibliographic Information

  • Book Title: Applied Decision Analysis and Economic Behaviour

  • Editors: A. J. Hughes Hallett

  • Series Title: Advanced Studies in Theoretical and Applied Econometrics

  • DOI: https://doi.org/10.1007/978-94-009-6161-6

  • Publisher: Springer Dordrecht

  • eBook Packages: Springer Book Archive

  • Copyright Information: Martinus Nijhoff Publishers, Dordrecht 1984

  • Softcover ISBN: 978-94-009-6163-0Published: 06 November 2011

  • eBook ISBN: 978-94-009-6161-6Published: 06 December 2012

  • Series ISSN: 1570-5811

  • Series E-ISSN: 2214-7977

  • Edition Number: 1

  • Number of Pages: 370

  • Topics: Econometrics

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