Forward-looking decision making dynamic programming models applied to health, risk, employment, and financial stability (the gorman lectures in economics)
Individuals and families make key decisions that impact many aspects of financial stability and determine the future of the economy. These decisions involve balancing current sacrifice against future benefits. People have to decide how much to invest in health care, exercise, their diet, and insuran...
Saved in:
| Main Author: | |
|---|---|
| Format: | eBook Book |
| Language: | English |
| Published: |
Princeton
Princeton University Press
2010
Princeton Univ. Press |
| Edition: | 1 |
| Series: | The Gorman Lectures in Economics |
| Subjects: | |
| ISBN: | 9780691142425, 1400835267, 0691142424, 9781400835263 |
| Online Access: | Get full text |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
Table of Contents:
- Forward-looking decision making: dynamic programming models applied to health, risk, employment, and financial stability (the gorman lectures in economics) -- Contents -- Foreword -- Preface -- 1. Basic Analysis of Forward-Looking Decision Making -- 2. Research on Properties of Preferences -- 3. Health -- 4. Insurance -- 5. Employment -- 6. Idiosyncratic Risk -- 7. Financial Stability with Government-Guaranteed Debt -- References -- Index.
- Front Matter Table of Contents Foreword Preface 1: Basic Analysis of Forward-Looking Decision Making 2: Research on Properties of Preferences 3: Health 4: Insurance 5: Employment 6: Idiosyncratic Risk 7: Financial Stability with Government-Guaranteed Debt References Index Back Matter
- References Index 7 Financial Stability with Government-Guaranteed Debt 5 Employment 6 Idiosyncratic Risk Foreword Preface 1 Basic Analysis of Forward-Looking Decision Making 2 Research on Properties of Preferences 3 Health 4 Insurance Title Page, Copyright
 Contents Cover
- Cover -- Contents -- Foreword -- Preface -- 1 Basic Analysis of Forward-Looking Decision Making -- 1.1 The Dynamic Program -- 1.2 Approximation -- 1.3 Stationary Case -- 1.4 Markov Representation -- 1.5 Distribution of the Stochastic Driving Force -- 2 Research on Properties of Preferences -- 2.1 Research Based on Marshallian and Hicksian Labor Supply Functions -- 2.2 Risk Aversion -- 2.3 Intertemporal Substitution -- 2.4 Frisch Elasticity of Labor Supply -- 2.5 Consumption-Hours Complementarity -- 3 Health -- 3.1 The Issues -- 3.2 Basic Facts -- 3.3 Basic Model -- 3.4 The Full Dynamic-Programming Model -- 3.5 The Health Production Function -- 3.6 Preference Parameters -- 3.7 Solving the Model -- 3.8 Concluding Remarks -- 4 Insurance -- 4.1 The Model -- 4.2 Calibration -- 4.3 Results -- 5 Employment -- 5.1 Insurance -- 5.2 Dynamic Labor-Market Equilibrium -- 5.3 The Employment Function -- 5.4 Econometric Model -- 5.5 Properties of the Data -- 5.6 Results -- 5.7 Concluding Remarks -- 6 Idiosyncratic Risk -- 6.1 The Joint Distribution of Lifetime and Exit Value -- 6.2 Economic Payoffs to Entrepreneurs -- 6.3 Entrepreneurs in Aging Companies -- 6.4 Concluding Remarks -- 7 Financial Stability with Government-Guaranteed Debt -- 7.1 Introduction -- 7.2 Options -- 7.3 Model -- 7.4 Calibration -- 7.5 Equilibrium -- 7.6 Roles of Key Parameters -- 7.7 Concluding Remarks -- 7.8 Appendix: Value Functions -- References -- Index -- A -- B -- C -- D -- E -- F -- G -- H -- I -- J -- K -- L -- M -- N -- O -- P -- R -- S -- T -- U -- V -- W
- Richard Blundell
- 5. Employment
- 7. Financial Stability with Government-Guaranteed Debt
- Index
- 6. Idiosyncratic Risk
- -
- Contents
- Foreword
- 2. Research on Properties of Preferences
- References
- 1. Basic Analysis of Forward-Looking Decision Making
- Frontmatter --
- 3. Health
- Preface
- 4. Insurance
- The Gorman Lectures in Economics
- Richard Blundell --