Economics of Inaction

Discover the groundbreaking insights of "Economics of Inaction" by Nancy L. Stokey, published by Princeton University Press in 2008. This comprehensive hardback edition spans 320 pages and delves into the application of stochastic control tools to dynamic decision-making issues under uncertainty, particularly in the presence of fixed costs. Stokey expertly explores two key models: impulse control and instantaneous control, making this book an invaluable resource for graduate students and researchers in the field of macroeconomics. Enhance your understanding of complex economic theories and decision-making processes with this essential addition to your academic library.