Fragile Beliefs and the Price of Uncertainty

Lars Hansen and Thomas Sargent

Chapter 9 in Uncertainty within Economic Models, 2014, pp 293-330 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The following sections are included:IntroductionStochastic Discounting and RisksThree Information StructuresRisk PricesA Full-Information Perspective on Agents’ LearningPrice Effects of Concerns About RobustnessIllustrating the MechanismConcluding RemarksAppendix 9.A Detection Error Probabilities

Keywords: Uncertainty; Economic Models; Econometrics; Dynamic Programming; Macroeconomics; Robustness; Robust Control Theory; Agents; Market Prices; Model Misspecification (search for similar items in EconPapers)
Date: 2014
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Journal Article: Fragile beliefs and the price of uncertainty (2010)
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