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    Forward-Looking Decision Making: Dynamic Programming Models Applied to Health, Risk, Employment, and Financial Stability
    Forward-Looking Decision Making: Dynamic Programming Models Applied to Health, Risk, Employment, and Financial Stability
    Forward-Looking Decision Making: Dynamic Programming Models Applied to Health, Risk, Employment, and Financial Stability
    Ebook112 pages1 hour

    Forward-Looking Decision Making: Dynamic Programming Models Applied to Health, Risk, Employment, and Financial Stability

    By Robert E. Hall

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    About this ebook

    Individuals 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.

    LanguageEnglish
    PublisherPrinceton University Press
    Release dateFeb 8, 2010
    ISBN9781400835263
    Forward-Looking Decision Making: Dynamic Programming Models Applied to Health, Risk, Employment, and Financial Stability
    Author

    Robert E. Hall

    Screenwriter (Writers guild of America), author, architectural designer, broadcast veteran, entrepreneur, member of Toastmasters International, and the US Army - Corps of Engineers (HD), Robert Hallhas turned his unique collective of educational, professional, military, and life experiences - as well as his extensive self-study on the ‘human renaissance’ - into a thought-provoking dialogue on relationships. Mr. Hall credits: the challenges of business, team, and consensus building, the enduring friendships made in the best and the worst of times, and - most importantly - his loving and supportive family, with inspiring a practical philosophy for building healthy, rewarding, and lasting relationships in every facet of your life.

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    • 3/5
      Although billed as a set of lectures, the contents of this book are essentially rehashed versions of Hall's papers. (The first chapter does provide some background on dynamic programming, but not in a form that would be useful to a beginner or provide new information to someone already familiar with the technique.) In short, while the economics contained in the book is interesting, there's little reason to buy the book itself.

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