Economics 

Develops the basic methods of recursive analysis, covers stochastic dynamic programming, and presents two fundamental theorems of welfare economics. 

Material Type: Internet resource
Document Type: Book, Internet Resource
All Authors / Contributors: Nancy L Stokey; Robert E Lucas, Jr.; Edward C Prescott
ISBN: 0674750969 9780674750968
OCLC Number: 18835722
Notes: Includes indexes.
Description: xviii, 588 pages : illustrations ; 25 cm
Contents: I. The recursive approach. Introduction --
An overview --
--
II. Deterministic models. Mathematical preliminaries --
Dynamic programming under certainty --
Applications of dynamic programming under certainty --
Deterministic dynamics --
--
III. Stochastic models. Measure theory and integration --
Markov processes --
Stochastic dynamic programming --
Applications of stochastic dynamic programming --
Strong convergence of Markov processes --
Weak convergence of Markov processes --
Applications of convergence results for Markov processes --
Laws of large numbers --
--
IV. Competitive equilibrium. Pareto optima and competitive equilibria --
Applications of equilibrium theory --
Fixed-point arguments --
Equilibria in systems with distortions.
Responsibility: Nancy L. Stokey and Robert E. Lucas, Jr., with Edward C. Prescott.