04141nam 2200733 a 450 991045674270332120200520144314.01-282-56919-897866125691971-4008-3526-710.1515/9781400835263(CKB)2550000000011777(EBL)537678(OCoLC)638860584(SSID)ssj0000417998(PQKBManifestationID)11281363(PQKBTitleCode)TC0000417998(PQKBWorkID)10369111(PQKB)11202693(MiAaPQ)EBC537678(OCoLC)642206025(MdBmJHUP)muse36763(DE-B1597)446750(OCoLC)979579418(DE-B1597)9781400835263(PPN)176626263(Au-PeEL)EBL537678(CaPaEBR)ebr10386065(CaONFJC)MIL256919(EXLCZ)99255000000001177720091016d2010 uy 0engur|n|---|||||txtccrForward-looking decision making[electronic resource] dynamic-programming models applied to health, risk, employment, and financial stability /Robert E. HallCourse BookPrinceton, N.J. Princeton University Pressc20101 online resource (145 p.)The Gorman lectures in economicsDescription based upon print version of record.0-691-14242-4 Includes bibliographical references and index. Frontmatter -- Contents -- Foreword / Blundell, Richard -- 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 -- The Gorman Lectures in Economics / Blundell, Richard 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 insurance. They must decide how much debt to take on, and how much to save. And they make choices about jobs that determine employment and unemployment levels. Forward-Looking Decision Making is about modeling this individual or family-based decision making using an optimizing dynamic programming model. Robert Hall first reviews ideas about dynamic programs and introduces new ideas about numerical solutions and the representation of solved models as Markov processes. He surveys recent research on the parameters of preferences--the intertemporal elasticity of substitution, the Frisch elasticity of labor supply, and the Frisch cross-elasticity. He then examines dynamic programming models applied to health spending, long-term care insurance, employment, entrepreneurial risk-taking, and consumer debt. Linking theory with data and applying them to real-world problems, Forward-Looking Decision Making uses dynamic optimization programming models to shed light on individual behaviors and their economic implications.Gorman lectures in economics.HouseholdsDecision makingEconometric modelsFamiliesDecision makingEconometric modelsDecision makingEconometric modelsElectronic books.HouseholdsDecision makingEconometric models.FamiliesDecision makingEconometric models.Decision makingEconometric models.330.01/5195Hall Robert Ernest1943-264868Blundell Richard, ctbhttps://id.loc.gov/vocabulary/relators/ctbMiAaPQMiAaPQMiAaPQBOOK9910456742703321Forward-looking decision making2460413UNINA