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Ignorance and uncertainty

Author: Olivier Compte; Andrew Postlewaite
Publisher: Cambridge, United Kingdom ; New York, NY : Cambridge University Press, 2018.
Series: Econometric society monograph series.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
Born of a belief that economic insights should not require much mathematical sophistication, this book proposes novel and parsimonious methods to incorporate ignorance and uncertainty into economic modeling, without complex mathematics. Economics has made great strides over the past several decades in modeling agents' decisions when they are incompletely informed, but many economists believe that there are aspects  Read more...
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Genre/Form: Electronic books
Additional Physical Format: Electronic reproduction of (manifestation):
Compte, Olivier.
Ignorance and uncertainty.
Cambridge, United Kingdom ; New York, NY : Cambridge University Press, 2018
(DLC) 2018015100
(OCoLC)1030444583
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Olivier Compte; Andrew Postlewaite
ISBN: 9781108379991 1108379990
OCLC Number: 1078688651
Description: 1 online resource
Contents: Introduction; Part I. Modeling Challenges: 1. Action space; 2. Ignorance and uncertainty; 3. Observations, perceptions and strategies; 4. Strategies and strategy restrictions; 5. Knowledge and beliefs; Part II. Legends and Myths: 6. Information aggregation; 7. Mechanism design; 8. Surplus extraction; 9. Folk theorems; 10. Comparative statics; Part III. Applications: 11. Auctions; 12. Learning; 13. Reputation; 14. Cooperation; 15. Influence; 16. Information aggregation in markets; 17. Bargaining; 18. Attrition; 19. Reputation; 20. Coordination; 21. Ambiguity and other complexity related aversions; Miscellanea; Index.
Series Title: Econometric society monograph series.
Responsibility: Olivier Compte, Paris School of Economics, Andrew Postlewaite, University of Pennsylvania.

Abstract:

Compte and Postlewaite propose novel methods to incorporate ignorance and uncertainty into economic modeling, without complex mathematics. An accessible text that proposes a constructive critique of  Read more...

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'This book provides a refreshing and thought-provoking examination of the standard Bayesian foundations of economic analysis. Anyone who reads it will find themselves thinking differently about Read more...

 
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