Sequential Binary Investment Decisions A Bayesian Approach
This book describes some models from the theory of investment which are mainly characterized by three features. Firstly, the decision-maker acts in a dynamic environment. Secondly, the distributions of the random variables are only incompletely known at the beginning of the planning process. This is...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
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Berlin, Heidelberg
Springer Berlin Heidelberg
1988
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| Ausgabe: | 1st ed. 1988 |
| Schriftenreihe: | Lecture Notes in Economics and Mathematical Systems
313 |
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| 520 | |a This book describes some models from the theory of investment which are mainly characterized by three features. Firstly, the decision-maker acts in a dynamic environment. Secondly, the distributions of the random variables are only incompletely known at the beginning of the planning process. This is termed as decision-making under conditions of uncer tainty. Thirdly, in large parts of the work we restrict the analysis to binary decision models. In a binary model, the decision-maker must choose one of two actions. For example, one decision means to undertake the invest ·ment project in a planning period, whereas the other decision prescribes to postpone the project for at least one more period. The analysis of dynamic decision models under conditions of uncertainty is not a very common approach in economics. In this framework the op timal decisions are only obtained by the extensive use of methods from operations research and from statistics. It is the intention to narrow some of the existing gaps in the fields of investment and portfolio analysis in this respect. This is done by combining techniques that have been devel oped in investment theory and portfolio selection, in stochastic dynamic programming, and in Bayesian statistics. The latter field indicates the use of Bayes' theorem for the revision of the probability distributions of the random variables over time | ||
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Datensatz im Suchindex
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| any_adam_object | |
| author | Jammernegg, Werner |
| author_facet | Jammernegg, Werner |
| author_role | aut |
| author_sort | Jammernegg, Werner |
| author_variant | w j wj |
| building | Verbundindex |
| bvnumber | BV046871556 |
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| ctrlnum | (ZDB-2-SBE)978-3-642-46646-5 (OCoLC)863932998 (DE-599)BVBBV046871556 |
| dewey-full | 332 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 332 - Financial economics |
| dewey-raw | 332 |
| dewey-search | 332 |
| dewey-sort | 3332 |
| dewey-tens | 330 - Economics |
| discipline | Mathematik Wirtschaftswissenschaften |
| doi_str_mv | 10.1007/978-3-642-46646-5 |
| edition | 1st ed. 1988 |
| format | Electronic eBook |
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| indexdate | 2024-12-24T08:18:28Z |
| institution | BVB |
| isbn | 9783642466465 |
| language | English |
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| spelling | Jammernegg, Werner Verfasser aut Sequential Binary Investment Decisions A Bayesian Approach by Werner Jammernegg 1st ed. 1988 Berlin, Heidelberg Springer Berlin Heidelberg 1988 1 Online-Ressource (VI, 156 p) txt rdacontent c rdamedia cr rdacarrier Lecture Notes in Economics and Mathematical Systems 313 This book describes some models from the theory of investment which are mainly characterized by three features. Firstly, the decision-maker acts in a dynamic environment. Secondly, the distributions of the random variables are only incompletely known at the beginning of the planning process. This is termed as decision-making under conditions of uncer tainty. Thirdly, in large parts of the work we restrict the analysis to binary decision models. In a binary model, the decision-maker must choose one of two actions. For example, one decision means to undertake the invest ·ment project in a planning period, whereas the other decision prescribes to postpone the project for at least one more period. The analysis of dynamic decision models under conditions of uncertainty is not a very common approach in economics. In this framework the op timal decisions are only obtained by the extensive use of methods from operations research and from statistics. It is the intention to narrow some of the existing gaps in the fields of investment and portfolio analysis in this respect. This is done by combining techniques that have been devel oped in investment theory and portfolio selection, in stochastic dynamic programming, and in Bayesian statistics. The latter field indicates the use of Bayes' theorem for the revision of the probability distributions of the random variables over time Finance, general Operations Research/Decision Theory Finance Operations research Decision making Bayes-Verfahren (DE-588)4204326-8 gnd rswk-swf Investitionsentscheidung (DE-588)4162244-3 gnd rswk-swf Kapitalanlage (DE-588)4073213-7 gnd rswk-swf Entscheidung bei Unsicherheit (DE-588)4070864-0 gnd rswk-swf (DE-588)4113937-9 Hochschulschrift gnd-content Investitionsentscheidung (DE-588)4162244-3 s Bayes-Verfahren (DE-588)4204326-8 s DE-604 Kapitalanlage (DE-588)4073213-7 s Entscheidung bei Unsicherheit (DE-588)4070864-0 s Erscheint auch als Druck-Ausgabe 9783540500346 Erscheint auch als Druck-Ausgabe 9783642466472 https://doi.org/10.1007/978-3-642-46646-5 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Jammernegg, Werner Sequential Binary Investment Decisions A Bayesian Approach Finance, general Operations Research/Decision Theory Finance Operations research Decision making Bayes-Verfahren (DE-588)4204326-8 gnd Investitionsentscheidung (DE-588)4162244-3 gnd Kapitalanlage (DE-588)4073213-7 gnd Entscheidung bei Unsicherheit (DE-588)4070864-0 gnd |
| subject_GND | (DE-588)4204326-8 (DE-588)4162244-3 (DE-588)4073213-7 (DE-588)4070864-0 (DE-588)4113937-9 |
| title | Sequential Binary Investment Decisions A Bayesian Approach |
| title_auth | Sequential Binary Investment Decisions A Bayesian Approach |
| title_exact_search | Sequential Binary Investment Decisions A Bayesian Approach |
| title_full | Sequential Binary Investment Decisions A Bayesian Approach by Werner Jammernegg |
| title_fullStr | Sequential Binary Investment Decisions A Bayesian Approach by Werner Jammernegg |
| title_full_unstemmed | Sequential Binary Investment Decisions A Bayesian Approach by Werner Jammernegg |
| title_short | Sequential Binary Investment Decisions |
| title_sort | sequential binary investment decisions a bayesian approach |
| title_sub | A Bayesian Approach |
| topic | Finance, general Operations Research/Decision Theory Finance Operations research Decision making Bayes-Verfahren (DE-588)4204326-8 gnd Investitionsentscheidung (DE-588)4162244-3 gnd Kapitalanlage (DE-588)4073213-7 gnd Entscheidung bei Unsicherheit (DE-588)4070864-0 gnd |
| topic_facet | Finance, general Operations Research/Decision Theory Finance Operations research Decision making Bayes-Verfahren Investitionsentscheidung Kapitalanlage Entscheidung bei Unsicherheit Hochschulschrift |
| url | https://doi.org/10.1007/978-3-642-46646-5 |
| work_keys_str_mv | AT jammerneggwerner sequentialbinaryinvestmentdecisionsabayesianapproach |