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Bayesian Analysis and Uncertainty in Economic Theory

Edited by Richard Michael Cyert

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We began this research with the objective of applying Bayesian methods of analysis to various aspects of economic theory. We were attracted to the Bayesian approach because it seemed the best analytic framework available for dealing with decision making under uncertainty, and the research presented in this book has only served to strengthen our belief in the appropriateness and usefulness of this methodology. More specifÂ ically, we believe that the concept of organizational learning is fundaÂ mental to decision making under uncertainty in economics and that the Bayesian framework is the most appropriate for developing that concept. The central and unifying theme of this book is decision making under uncertainty in microeconomic theory. Our fundamental aim is to explore the ways in which firms and households make decisions and to develop models that have a strong empirical connection. Thus, we have attempted to contribute to economic theory by formalizing models of the actual proÂ cess of decision making under uncertainty. Bayesian methodology proÂ vides the appropriate vehicle for this formalization.

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The Ballerina and the Bull: Anarchist Utopias in the Age of Finance

Johanna Isaacson
Paperback / softback
288 pages
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Our moment has seen the resurgence of an anarchist sensibility, from the uprisings in Seattle in 1999 to the Occupy movement of 2011.

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Fifteen Dogs

AndrÃ© Alexis
Paperback / softback
176 pages
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The Memory Collectors: A Novel

Dete Meserve
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320 pages
was: R 666.95
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