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Bayesian Analysis and Uncertainty in Economic Theory

Edited by Richard Michael Cyert

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Price: R 2,111.95

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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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Normally shipped | Available from overseas. Delivery time is 14 - 21 days
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Normal Price | R 3,143.95
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The Coming Wave: AI, Power and Our Future

Mustafa Suleyman
Paperback / softback
352 pages
was: R 295.95
now: R 265.95
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Survive the AI Apocalypse: A guide for solutionists

Bronwen Williams
Paperback / softback
232 pages
was: R 340.95
now: R 306.95
Forthcoming

Let's stare the future down and, instead of fearing AI, become solutionists.

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The Memory Collectors: A Novel

Dete Meserve
Paperback / softback
320 pages

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The Colonialist: The Vision of Cecil Rhodes

William Kelleher Storey
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528 pages
was: R 425.95
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This first comprehensive biography of Cecil Rhodes in a generation illuminates Rhodesâ€™s vision for the expansion of imperialism in southern Africa, connecting politics and industry to internal development, and examines how this fueled a lasting, white-dominated colonial society.

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