000			02241nam a22002417a 4500
999			_c1980 _d1980
003			OSt
005			20191209153153.0
008			191209b ||||| |||| 00| 0 eng d
020			_a0-691-14242-4
040			_cIZA
100			_aHall, Robert E. _95674
245			_aForward Looking Decision Making: Dynamic-Programming Models Applied to Health, Risk, Employment, and Financial Stability
260			_aPrinceton, NJ, _bPrinceton University Press, _c2010
300			_a126 pages
440			_aThe Gorman Lectures in Economics _95675
520			_aIndividuals 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.
650			_adecision making _9962
650			_ahousehold _93718
650			_afamily _95676
650			_aeconometric model _9266
856			_uhttps://www.degruyter.com/view/product/451650 _yPublisher's website
942			_2ddc _cBO _kC5 _m22