The Art of Smooth Pasting
This book aims to widen the understanding of stochastic dynamic choice and equilibrium models. It offers a simplified and heuristic exposition of the theory of Brownian motion and its control or regulation, rendering such methods more accessible to economists who do not require a detailed, mathematical treatment of the subject. The main mathematical ideas are presented in a context which with which economists will be familiar. Using a binomial approach to Brownian motion, the mathematics is reduced to simple algebra, progressing to some equally simple limits. The starting point of the calculus of Brownian motion - 'Ito's Lemma' - emerges by a…
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Noch nicht erschienen, Januar 2021
Produktdetails
- ISBN: 978-1-317-97373-7
- EAN: 9781317973737
- Produktnummer: 16985658
- Verlag: Taylor & Francis Ltd.
- Sprache: Englisch
- Erscheinungsjahr: 2013
- Seitenangabe: 88 S.
- Plattform: PDF
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