Compare Prices | Create Shopping Lists with Price Drop Alerts | Set Coupons, Promo Codes & Sales Alerts | Get Access to Exclusive Deals and Much More... All in One Place | Read all about it here

Time-Inconsistent Control Theory with Finance Applications

Time-Inconsistent Control Theory with Finance Applications

Brand
Springer Nature
Manufacturer
N/A
Part Number
0
GTIN
9783030818432
Condition
New
Product Description

This book is devoted to problems of stochastic control and stopping that are time inconsistent in the sense that they do not admit a Bellman optimality principle. These problems are cast in a game-theoretic framework, with the focus on subgame-perfect Nash equilibrium strategies. The general theory is illustrated with a number of finance applications. In dynamic choice problems, time inconsistency is the rule rather than the exception. Indeed, as Robert H. Strotz pointed out in his seminal 1955 paper, relaxing the widely used ad hoc assumption of exponential discounting gives rise to time inconsistency. Other famous examples of time inconsistency include mean-variance portfolio choice and prospect theory in a dynamic context. For such models, the very concept of optimality becomes problematic, as the decision makers preferences change over time in a temporally inconsistent way. In this book, a time-inconsistent problem is viewed as a non-cooperative game between the agents currentand future selves, with the objective of finding intrapersonal equilibria in the game-theoretic sense. A range of finance applications are provided, including problems with non-exponential discounting, mean-variance objective, time-inconsistent linear quadratic regulator, probability distortion, and market equilibrium with time-inconsistent preferences. Time-Inconsistent Control Theory with Finance Applications offers the first comprehensive treatment of time-inconsistent control and stopping problems, in both continuous and discrete time, and in the context of finance applications. Intended for researchers and graduate students in the fields of finance and economics, it includes a review of the standard time-consistent results, bibliographical notes, as well as detailed examples showcasing time inconsistency problems. For the reader unacquainted with standard arbitrage theory, an appendix provides a toolbox of material needed for the book.

Available Colors
Available Sizes
1 Offer Price Range: $109.00 - $109.00
BEST PRICE

Single Product Purchase

$98.10
@ Link.springer.com with extra coupon Get Coupon & BUY

Price Comparison

Seller Contact Seller List Price On Sale Shipping Best Promo Final Price Volume Discount Financing Availability Seller's Page
BEST PRICE
1 Product Purchase
@ Link.springer.com
Contact Store Call Store Contact Support
$109.00 $109.00

10% OFF
This deals requires coupon Get Code Here
$98.10
See Site In stock Visit Store

Similar Products

War in Ukraine. Media and Emotions

$89.00

Environmental Risk Analysis for Asian-Oriented, Risk-Based Watershed Management

$139.99

Raumflugmechanik

$54.99

Peace Maintenance in Africa

$159.99

Zielbildung und Bewertung in der Organisationsplanung

$59.99

Geology and Mineral Resources of West Africa

$219.99

Scaling a Software Business

$59.99

Garden Plants Taxonomy

$99.99

Advances in Agri-Food Biotechnology

$189.00

Monitoring Tools for Setting up The Hospital Project

$189.00

Integration of Ecosystem Theories: A Pattern

$39.99

State Space Grids

$119.99

Psychopharmaka

$84.99

David Lynch

$119.99

The Political Economy of Hemispheric Integration

$39.99

Pillars of Transcendental Number Theory

$99.99

Value Distribution of Holomorphic Maps into Compact Complex Manifolds

$34.99

Security in Network Coding

$119.99

Resistant Hypertension in Chronic Kidney Disease

$139.99

European Ecosystems

$84.99

Database and Expert Systems Applications

$84.99

Embodiment, Emotion, and Cognition

$54.99

Performing the Nation in Interwar Germany

$54.99

Bold Ventures - Volume 1

$84.99

Analysing Health Communication

$149.00

Adjudicative Competence

$84.99

Relativistic Collisions of Structured Atomic Particles

$169.99

Diesseits und jenseits der konomie

$37.99

Praxismanual Strahlentherapie

$89.99

Gaming as a Cultural Commons

$119.99

Fhrungskraft Ingenieur

$59.99

Case-Based Reasoning Research and Development

$69.99

Proceedings of the Summer School in Logik, Leeds, 1967

$44.99

Childrens Drawings

$109.99

Consciousness, Literature and Theatre

$109.99

Embracing Machines and Humanity Through Cognitive Computing and IoT

$159.99

Principles of Clinical Practice

$84.99

Karl W. Deutsch: Pioneer in the Theory of International Relations

$119.99

Life Writing in the Posthuman Anthropocene

$109.00

El libro de las palomitas de maz

$5.21