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BOOKS by Nancy L Stokey

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Recursive Methods in Economic Dynamics

Recursive Methods in Economic Dynamics more books like this

by Nancy L Stokey, Edward C Prescott, Robert E Lucas, Jr.

Develops the basic methods of recursive analysis, covers stochastic dynamic programming, and presents two fundamental theorems of welfare economics.

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The Economics of Inaction: Stochastic Control Models with Fixed Costs

The Economics of Inaction: Stochastic Control Models with Fixed Costs more books like this

by Nancy L Stokey

In economic situations where action entails a fixed cost, inaction is the norm. Action is taken infrequently, and adjustments are large when they occur. Interest in economic models that exhibit "lumpy" behavior of this kind has exploded in recent years, spurred by growing evidence that it is typical in many important economic decisions, including ...

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