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Economics of Pessimism and Optimism: Theory of Knightian Uncertainty and Its Applications

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Author(s): Nishimura, Kiyohiko G.; Ozaki, Hiroyuki
Publisher: Springer Japan : Imprint : Springer
Year: 2017

Language: English
Pages: 326
Tags: Behavioral economics.;Economics.;Behavioral/Experimental Economics.

Content: 1 Overall Introduction --
2 Mathematics for Reading Later Chapters --
3 Decision-Theoretic Foundations of Knightian Uncertainty --
4 Portfolio Inertia --
5 Equilibrium Indeterminacy in Arrow-Debreu Economy with Knightian Uncertainty --
6 Monetary Equilibria and Knightian Uncertainty --
7 Dynamic Programming --
8 Dynamic Asset Pricing --
9 Search and Knightian Uncertainty --
10 Irreversible Investment and Knightian Uncertainty --
11 Liquidity Preference and Knightian Uncertainty --
12 A Simple Characterization of Pessimism and Optimism: e-Contamination Versus e-Exuberance --
13 Persistent Pessimism and Optimism in Forecasts: Implicit Means and Law of Iterated Integrals --
14 Learning Under Knightian Uncertainty --
15 Areas of Further Research --
Appendix Proofs of Lemmas and Theorems --
Index.