Robustness

by Thomas J. Sargent and Lars Peter Hansen

Book Overview

The standard theory of decision making under uncertainty advises the decision maker to form a statistical model linking outcomes to decisions and then to choose the optimal distribution of outcomes. This assumes that the decision maker trusts the model completely. But what should a decision maker do if the model cannot be trusted?

Lars Hansen and Thomas Sargent, two leading macroeconomists, push the field forward as they set about answering...

• Format: Paperback
• Language: English
• ISBN: 0691170975
• ISBN13: 9780691170978
• Release Date: June 2016
• Publisher: Princeton University Press
• Length: 464 Pages
• Weight: 1.72 lbs.
• Dimensions: 0.9" x 7.0" x 10.0"