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Probability models for economic decisions [2nd ed.] (Record no. 566969)

MARC details
000 -LEADER
fixed length control field 02495 a2200265 4500
003 - CONTROL NUMBER IDENTIFIER
control field OSt
005 - DATE AND TIME OF LATEST TRANSACTION
control field 20231110101204.0
008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION
fixed length control field 231110b xxu||||| |||| 00| 0 eng d
020 ## - INTERNATIONAL STANDARD BOOK NUMBER
ISBN 9780262043120
040 ## - CATALOGING SOURCE
Transcribing agency IIT Kanpur
041 ## - LANGUAGE CODE
Language code of text/sound track or separate title eng
082 ## - DEWEY DECIMAL CLASSIFICATION NUMBER
Classification number 330.015195
Item number M992p2
100 ## - MAIN ENTRY--AUTHOR NAME
Personal name Myerson, Roger B.
245 ## - TITLE STATEMENT
Title Probability models for economic decisions [2nd ed.]
Statement of responsibility, etc Roger B. Myerson and Eduardo Zambrano
250 ## - EDITION STATEMENT
Edition statement 2nd ed.
260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT)
Name of publisher The MIT Press
Year of publication 2019
Place of publication Cambridge
300 ## - PHYSICAL DESCRIPTION
Number of Pages xvii, 548p
520 ## - SUMMARY, ETC.
Summary, etc An introduction to the use of probability models for analyzing risk and economic decisions, using spreadsheets to represent and simulate uncertainty. b,This textbook offers an introduction to the use of probability models for analyzing risks and economic decisions. It takes a learn-by-doing approach, teaching the student to use spreadsheets to represent and simulate uncertainty and to analyze the effect of such uncertainty on an economic decision. Students in applied business and economics can more easily grasp difficult analytical methods with Excel spreadsheets. The book covers the basic ideas of probability, how to simulate random variables, and how to compute conditional probabilities via Monte Carlo simulation. The first four chapters use a large collection of probability distributions to simulate a range of problems involving worker efficiency, market entry, oil exploration, repeated investment, and subjective belief elicitation. The book then covers correlation and multivariate normal random variables; conditional expectation; optimization of decision variables, with discussions of the strategic value of information, decision trees, game theory, and adverse selection; risk sharing and finance; dynamic models of growth; dynamic models of arrivals; and model risk. New material in this second edition includes two new chapters on additional dynamic models and model risk; new sections in every chapter; many new end-of-chapter exercises; and coverage of such topics as simulation model workflow, models of probabilistic electoral forecasting, and real options. The book comes equipped with Simtools, an open-source, free software used througout the book, which allows students to conduct Monte Carlo simulations seamlessly in Excel.
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical Term Decision making -- Mathematical models
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical Term Economics, Mathematical
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical Term Probabilities
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical Term Statistical decision
700 ## - ADDED ENTRY--PERSONAL NAME
Personal name Zambrano, Eduardo
942 ## - ADDED ENTRY ELEMENTS (KOHA)
Koha item type Books
Holdings
Withdrawn status Lost status Damaged status Not for loan Collection code Home library Current library Date acquired Source of acquisition Cost, normal purchase price Full call number Accession Number Cost, replacement price Koha item type
        General Stacks PK Kelkar Library, IIT Kanpur PK Kelkar Library, IIT Kanpur 20/11/2023 7 7193.66 330.015195 M992p2 A186357 13321.60 Books

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