Download or read book Economic Models written by Dipak R. Basu and published by World Scientific. This book was released on 2009 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Model Building is the most fruitful area of economics, designed to solve real-world problems using all available methods such as mathematical, computational and analytical, without distinction. Wherever necessary, we should not be reluctant to develop new techniques, whether mathematical or computational. That is the philosophy of this volume. The volume is divided into three distinct parts: Methods, Theory and Applications. The Methods section is in turn subdivided into Mathematical Programming and Econometrics and Adaptive Control System, which are widely used in econometric analysis. The impacts of fiscal policy in a regime with independent monetary authority and dynamic models of environmental taxation are considered. In the section on "Modelling Business Organization," a model of a Japanese organization is presented. Furthermore, a model suitable for an efficient budget management of a health service unit by applying goal programming method is analyzed, taking into account various socio-economic factors. This is followed by a section on "Modelling National Economies," in which macroeconometric models for the EU member countries are analyzed, to find instruments that stabilize inflation with coordinated action.

Download or read book Economic Modeling and Inference written by Bent Jesper Christensen and published by Princeton University Press. This book was released on 2021-07-13 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic Modeling and Inference takes econometrics to a new level by demonstrating how to combine modern economic theory with the latest statistical inference methods to get the most out of economic data. This graduate-level textbook draws applications from both microeconomics and macroeconomics, paying special attention to financial and labor economics, with an emphasis throughout on what observations can tell us about stochastic dynamic models of rational optimizing behavior and equilibrium. Bent Jesper Christensen and Nicholas Kiefer show how parameters often thought estimable in applications are not identified even in simple dynamic programming models, and they investigate the roles of extensions, including measurement error, imperfect control, and random utility shocks for inference. When all implications of optimization and equilibrium are imposed in the empirical procedures, the resulting estimation problems are often nonstandard, with the estimators exhibiting nonregular asymptotic behavior such as short-ranked covariance, superconsistency, and non-Gaussianity. Christensen and Kiefer explore these properties in detail, covering areas including job search models of the labor market, asset pricing, option pricing, marketing, and retirement planning. Ideal for researchers and practitioners as well as students, Economic Modeling and Inference uses real-world data to illustrate how to derive the best results using a combination of theory and cutting-edge econometric techniques. Covers identification and estimation of dynamic programming models Treats sources of error--measurement error, random utility, and imperfect control Features financial applications including asset pricing, option pricing, and optimal hedging Describes labor applications including job search, equilibrium search, and retirement Illustrates the wide applicability of the approach using micro, macro, and marketing examples

Download or read book Game Theory and Economic Modelling written by David M. Kreps and published by Oxford University Press. This book was released on 1990 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comprises lectures given at Tel Aviv University and Oxford University in 1990.

Download or read book Economics Rules written by Dani Rodrik and published by Oxford University Press, USA. This book was released on 2015 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: A leading economist trains a lens on his own discipline to uncover when it fails and when it works.

Download or read book The World in the Model written by Mary S. Morgan and published by Cambridge University Press. This book was released on 2012-09-17 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: During the last two centuries, the way economic science is done has changed radically: it has become a social science based on mathematical models in place of words. This book describes and analyses that change - both historically and philosophically - using a series of case studies to illuminate the nature and the implications of these changes. It is not a technical book; it is written for the intelligent person who wants to understand how economics works from the inside out. This book will be of interest to economists and science studies scholars (historians, sociologists and philosophers of science). But it also aims at a wider readership in the public intellectual sphere, building on the current interest in all things economic and on the recent failure of the so-called economic model, which has shaped our beliefs and the world we live in.

Download or read book Agent Based Models in Economics written by Domenico Delli Gatti and published by Cambridge University Press. This book was released on 2018-03-22 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first step-by-step introduction to the methodology of agent-based models in economics, their mathematical and statistical analysis, and real-world applications.

Download or read book Models in Microeconomic Theory written by Martin J. Osborne and published by Open Book Publishers. This book was released on 2023-06-26 with total page 382 pages. Available in PDF, EPUB and Kindle. Book excerpt: Models in Microeconomic Theory covers basic models in current microeconomic theory. Part I (Chapters 1-7) presents models of an economic agent, discussing abstract models of preferences, choice, and decision making under uncertainty, before turning to models of the consumer, the producer, and monopoly. Part II (Chapters 8-14) introduces the concept of equilibrium, beginning, unconventionally, with the models of the jungle and an economy with indivisible goods, and continuing with models of an exchange economy, equilibrium with rational expectations, and an economy with asymmetric information. Part III (Chapters 15-16) provides an introduction to game theory, covering strategic and extensive games and the concepts of Nash equilibrium and subgame perfect equilibrium. Part IV (Chapters 17-20) gives a taste of the topics of mechanism design, matching, the axiomatic analysis of economic systems, and social choice. The book focuses on the concepts of model and equilibrium. It states models and results precisely, and provides proofs for all results. It uses only elementary mathematics (with almost no calculus), although many of the proofs involve sustained logical arguments. It includes about 150 exercises. With its formal but accessible style, this textbook is designed for undergraduate students of microeconomics at intermediate and advanced levels.

Download or read book Decision Modelling for Health Economic Evaluation written by Andrew Briggs and published by OUP Oxford. This book was released on 2006-08-17 with total page 269 pages. Available in PDF, EPUB and Kindle. Book excerpt: In financially constrained health systems across the world, increasing emphasis is being placed on the ability to demonstrate that health care interventions are not only effective, but also cost-effective. This book deals with decision modelling techniques that can be used to estimate the value for money of various interventions including medical devices, surgical procedures, diagnostic technologies, and pharmaceuticals. Particular emphasis is placed on the importance of the appropriate representation of uncertainty in the evaluative process and the implication this uncertainty has for decision making and the need for future research. This highly practical guide takes the reader through the key principles and approaches of modelling techniques. It begins with the basics of constructing different forms of the model, the population of the model with input parameter estimates, analysis of the results, and progression to the holistic view of models as a valuable tool for informing future research exercises. Case studies and exercises are supported with online templates and solutions. This book will help analysts understand the contribution of decision-analytic modelling to the evaluation of health care programmes. ABOUT THE SERIES: Economic evaluation of health interventions is a growing specialist field, and this series of practical handbooks will tackle, in-depth, topics superficially addressed in more general health economics books. Each volume will include illustrative material, case histories and worked examples to encourage the reader to apply the methods discussed, with supporting material provided online. This series is aimed at health economists in academia, the pharmaceutical industry and the health sector, those on advanced health economics courses, and health researchers in associated fields.

Download or read book Network Theory and Agent Based Modeling in Economics and Finance written by Anindya S. Chakrabarti and published by Springer Nature. This book was released on 2019-10-23 with total page 458 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the latest findings on network theory and agent-based modeling of economic and financial phenomena. In this context, the economy is depicted as a complex system consisting of heterogeneous agents that interact through evolving networks; the aggregate behavior of the economy arises out of billions of small-scale interactions that take place via countless economic agents. The book focuses on analytical modeling, and on the econometric and statistical analysis of the properties emerging from microscopic interactions. In particular, it highlights the latest empirical and theoretical advances, helping readers understand economic and financial networks, as well as new work on modeling behavior using rich, agent-based frameworks. Innovatively, the book combines observational and theoretical insights in the form of networks and agent-based models, both of which have proved to be extremely valuable in understanding non-linear and evolving complex systems. Given its scope, the book will capture the interest of graduate students and researchers from various disciplines (e.g. economics, computer science, physics, and applied mathematics) whose work involves the domain of complexity theory.

Download or read book Mathematical Methods and Models for Economists written by Angel de la Fuente and published by Cambridge University Press. This book was released on 2000-01-28 with total page 630 pages. Available in PDF, EPUB and Kindle. Book excerpt: A textbook for a first-year PhD course in mathematics for economists and a reference for graduate students in economics.

Download or read book Economics Rules The Rights and Wrongs of the Dismal Science written by Dani Rodrik and published by W. W. Norton & Company. This book was released on 2015-10-13 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: “A hugely valuable contribution. . . . In setting out a defence of the best in economics, Rodrik has also provided a goal for the discipline as a whole.” —Martin Sandbu, Financial Times In the wake of the financial crisis and the Great Recession, economics seems anything but a science. In this sharp, masterfully argued book, Dani Rodrik, a leading critic from within, takes a close look at economics to examine when it falls short and when it works, to give a surprisingly upbeat account of the discipline. Drawing on the history of the field and his deep experience as a practitioner, Rodrik argues that economics can be a powerful tool that improves the world—but only when economists abandon universal theories and focus on getting the context right. Economics Rules argues that the discipline's much-derided mathematical models are its true strength. Models are the tools that make economics a science. Too often, however, economists mistake a model for the model that applies everywhere and at all times. In six chapters that trace his discipline from Adam Smith to present-day work on globalization, Rodrik shows how diverse situations call for different models. Each model tells a partial story about how the world works. These stories offer wide-ranging, and sometimes contradictory, lessons—just as children’s fables offer diverse morals. Whether the question concerns the rise of global inequality, the consequences of free trade, or the value of deficit spending, Rodrik explains how using the right models can deliver valuable new insights about social reality and public policy. Beyond the science, economics requires the craft to apply suitable models to the context. The 2008 collapse of Lehman Brothers challenged many economists' deepest assumptions about free markets. Rodrik reveals that economists' model toolkit is much richer than these free-market models. With pragmatic model selection, economists can develop successful antipoverty programs in Mexico, growth strategies in Africa, and intelligent remedies for domestic inequality. At once a forceful critique and defense of the discipline, Economics Rules charts a path toward a more humble but more effective science.

Download or read book Empirical Regional Economics written by Richard S. Conway Jr. and published by Springer Nature. This book was released on 2022-04-23 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: This textbook offers an introduction to empirical regional economics, including a comprehensive and systematic overview of the fundamentals, history, development, and applications of economic base models. It not only provides a sound basis for regional economics and regional economic analysis, but it also includes numerous applications of the underlying theory. The book has an empirical orientation, highlighting the value of observation and testing in order to explain regional economic behavior. Theory plays an important role in this study, but it is only a starting point. The book is divided into three parts: the first discusses the economic base theory of regional growth and the empirical evidence supporting it, while the second part covers the specification and application of four increasingly complex regional economic models: the economic base model, the input-output model, the interindustry econometric model, and the structural time-series model. Lastly, the third part presents forty-eight regional economic case studies organized under seven headings, including economic cycles, economic policy, and regional forecasting. Given its scope, the book appeals to upper-undergraduate and graduate students majoring in economics, economic geography, and business, as well as to anyone in the private or public sector interested in gaining a better understanding of practical methods of regional economic forecasting and analysis. For additional course material, please check the author's website: https://www.empiricalregionaleconomics.com/

Download or read book Logit Models from Economics and Other Fields written by J. S. Cramer and published by Cambridge University Press. This book was released on 2003-08-21 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: Logistic models are widely used in economics and other disciplines and are easily available as part of many statistical software packages. This text for graduates, practitioners and researchers in economics, medicine and statistics, which was originally published in 2003, explains the theory underlying logit analysis and gives a thorough explanation of the technique of estimation. The author has provided many empirical applications as illustrations and worked examples. A large data set - drawn from Dutch car ownership statistics - is provided online for readers to practise the techniques they have learned. Several varieties of logit model have been developed independently in various branches of biology, medicine and other disciplines. This book takes its inspiration from logit analysis as it is practised in economics, but it also pays due attention to developments in these other fields.

Download or read book Economic Models and Methodology written by Randall G. Holcombe and published by Praeger. This book was released on 1989-09-26 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world is too complex for anyone to ever hope to understand all of its interrelationships simultaneously. Yet small aspects of the world we live in can be represented by comprehensible models. This is why economists use models in their analysis and research. In Economic Models and Methodology, Holcombe examines the way in which models are used in economics, and makes specific methodological recommendations more restrictive than the methodological doctrine of pluralism. Holcombe's book is not an encyclopedia of methodology, but rather an analysis of mainstream methodology, and an examination of the use of models in economics. Holcombe examines the role of assumptions in models, the use of empirical models in economics, and specific applications of models in both macroeconomics and microeconomics.

Download or read book Economic Models Methods Theory And Applications written by Dipak R Basu and published by World Scientific. This book was released on 2009-04-17 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Model Building is the most fruitful area of economics, designed to solve real-world problems using all available methods such as mathematical, computational and analytical, without distinction. Wherever necessary, we should not be reluctant to develop new techniques, whether mathematical or computational. That is the philosophy of this volume.The volume is divided into three distinct parts: Methods, Theory and Applications. The Methods section is in turn subdivided into Mathematical Programming and Econometrics and Adaptive Control System, which are widely used in econometric analysis. The impacts of fiscal policy in a regime with independent monetary authority and dynamic models of environmental taxation are considered.In the section on “Modelling Business Organization”, a model of a Japanese organization is presented. Furthermore, a model suitable for an efficient budget management of a health service unit by applying goal programming method is analyzed, taking into account various socio-economic factors. This is followed by a section on “Modelling National Economies”, in which macroeconometric models for the EU member countries are analyzed, to find instruments that stabilize inflation with coordinated action.

Download or read book Economic Models for Policy Making written by Solomon Cohen and published by Routledge. This book was released on 2013-05-02 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past decades, many different kinds of models have been developed that have been of use to policy makers, but until now the different approaches have not been brought together with a view to enhancing the systematic unification and evaluation of these models. This new volume aims to fill this gap by bringing together four decades’ worth of work by S. I. Cohen on economic modelling for policy making. Work on older models has been rewritten and brought fully up to date, and these older models have therefore been brought back to the fore, both to assess how they influenced more recent models and to see how they could be used today. The focus of the book is on models for development policies in developing economies, but there are some chapters that relate to economic policies in transition and developed economies. The policy areas covered are of typical interest in developing and transition economies. They include those relating to trade liberalization reforms, sustainable development, industrial development, agrarian reform, growth and distribution, human resource development and education, public goods and income transfers. Each chapter contains a brief assessment of the empirical literature on the economic effects of the policy measures discussed in the chapter. The book presents a platform of economic modelling that can serve as a refresher for practising professionals, as well as a reference companion for graduates engaging in economic modelling and policy preparations.

Download or read book Regional Economic Modeling A Systematic Approach to Economic Forecasting and Policy Analysis written by G.I. Treyz and published by Springer Science & Business Media. This book was released on 2013-11-11 with total page 522 pages. Available in PDF, EPUB and Kindle. Book excerpt: Regional economic models are the key to predicting the effects of transportation, economic development, energy, fiscal and environmental policies. Despite this, the principal regional economic policy analysis model used throughout the United States by government agencies, universities, and the private sector has not been presented in a book until now. The approach to building, understanding and using regional models presented in Regional Economic Models: A Systematic Approach to Forecasting and Policy Analysis is progressive. It begins with the simplest possible models and concludes with a full presentation of the leading model used by policy makers today. The full details are presented along with facilitating software, which is made available so that the reader can build a prototype model for any state or country and can perform policy simulations with full operational models for a sample area. Policy studies are discussed that have been carried out with the model, as well as the range of ways in which policies can be tested through policy simulations. The necessary background is developed for understanding the ways in which models can be used to improve the basis upon which policies are evaluated, as well as the sensitivity of the predicted effects to the model chosen for the analysis. The presentation is multifaceted and includes equations, diagrams and numerical examples. The professional literature is integrated with introductory materials to produce the first comprehensive book on regional modeling that extends from economic base models to modeling advances that are currently being published in economic journals.