Peter M. Kort – författare
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4 produkter
4 produkter
Del 22 - Dynamic Modeling and Econometrics in Economics and Finance
Dynamic Perspectives on Managerial Decision Making
Essays in Honor of Richard F. Hartl
Inbunden, Engelska, 2016
2 134 kr
Skickas inom 10-15 vardagar
This volume collects research papers addressing topical issues in economics and management with a particular focus on dynamic models which allow to analyze and foster the decision making of firms in dynamic complex environments. The scope of the contributions ranges from daily operational challenges firms face to strategic choices in dynamic industry environments and the analysis of optimal growth paths. The volume also highlights recent methodological developments in the areas of dynamic optimization, dynamic games and meta-heuristics, which help to improve our understanding of (optimal) decision making in a fast evolving economy.
Dynamic Perspectives on Managerial Decision Making
Essays in Honor of Richard F. Hartl
Häftad, Engelska, 2018
2 787 kr
Skickas inom 5-8 vardagar
This volume collects research papers addressing topical issues in economics and management with a particular focus on dynamic models which allow to analyze and foster the decision making of firms in dynamic complex environments.
Del 330 - Lecture Notes in Economics and Mathematical Systems
Optimal Dynamic Investment Policies of a Value Maximizing Firm
Häftad, Engelska, 1989
555 kr
Skickas inom 10-15 vardagar
This book is a contribution to the area of dynamic models of the firm. In Chapter 1, a general investment decision rule based on the concept of net present value of marginal investment is developed. In chapter 2, the rule is applied in deterministic dynamic models of the firm. This rule can be expressed as follows: If the net present value of marginal investment is positive, it is optimal for the firm to grow as fast as possible; If the net present value of marginal investment is zero, the firm is in its optimal situation and it determines its investment policy to maintain this position; If the net present value of marginal investment is negative, it is optimal for the firm to contract as much as possible. In Chapter 3, the influence of adjustment costs of investment on optimal dynamic firm behaviour is studied. To that end, models with convex and concave adjustment cost functions are developed and analysed by using the investment decision rule described above. In Chapter 4, the stochastic dynamic theory of the firm is extended by connecting it with the Intertemporal Capital Asset Pricing Model (ICAPM) developed by Merton.
1 103 kr
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In this book we open our insights in the Theory of the Firm, obtained through the application of Optimal Control Theory, to a public of scholars and advanced students in economics and applied mathematics. We walk on the micro economic side of the street that is bordered by Theory of the Firm on one side and by Optimal Control Theory on the other, keeping the reader away from all the dead end roads we turned down during our 10 years lasting research. We focus attention on the expressiveness and variety of insights that are obtained through studying only simple models of the firm. In this book mathematics is our tool, insight in optimal corporate policy our goal. Therefore most of the mathematics and calculations is put into appendices and in the main text all attention is on modelling corporate behaviour and on analysing the results of the calculations. So, the main text focusses on micro economics, even more specific: on Theory of the Firm. In that way this book is contrasted from such famous text books in applied Optimal Control with a much broader portfolio of applications, like Feichtinger & Hartl (1986) or with a more rigorous introduction into theory, like Seierstad & Sydsaeter (1987).