{"product_id":"forward-looking-decision-making-robert-e-hall-9780691142425","title":"Forward-Looking Decision Making: Dynamic-Programming Models Applied to Health, Risk, Employment, and Financial Stability","description":"\u003cp\u003eIndividuals and families make key decisions that impact many aspects of financial stability and determine the future of the economy. These decisions involve balancing current sacrifice against future benefits. People have to decide how much to invest in health care, exercise, their diet, and insurance. They must decide how much debt to take on, and how much to save. And they make choices about jobs that determine employment and unemployment levels. \u003ci\u003eForward-Looking Decision Making\u003c\/i\u003e is about modeling this individual or family-based decision making using an optimizing dynamic programming model. \u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e Robert Hall first reviews ideas about dynamic programs and introduces new ideas about numerical solutions and the representation of solved models as Markov processes. He surveys recent research on the parameters of preferences--the intertemporal elasticity of substitution, the Frisch elasticity of labor supply, and the Frisch cross-elasticity. He then examines dynamic programming models applied to health spending, long-term care insurance, employment, entrepreneurial risk-taking, and consumer debt. \u003cp\u003e\u003c\/p\u003e Linking theory with data and applying them to real-world problems, \u003ci\u003eForward-Looking Decision Making\u003c\/i\u003e uses dynamic optimization programming models to shed light on individual behaviors and their economic implications.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e Robert E. Hall\u003cbr\u003e\u003cb\u003eISBN-10:\u003c\/b\u003e 0691142424\u003cbr\u003e\u003cb\u003eISBN-13:\u003c\/b\u003e 9780691142425\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Princeton University Press\u003cbr\u003e\u003cb\u003eLanguage:\u003c\/b\u003e English\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 02\/28\/2010\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 152\u003cbr\u003e\u003cb\u003eFormat:\u003c\/b\u003e Hardcover\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 0.70lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 8.50h x 5.50w x 0.70d","brand":"Robert E. Hall","offers":[{"title":"Hardcover","offer_id":48086767173887,"sku":"9780691142425","price":81.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0662\/2982\/9887\/files\/img_ca324c2c-73d2-44a6-9010-a817b002a1e1.jpg?v=1769096456","url":"https:\/\/www.whiterainbookhouse.com\/products\/forward-looking-decision-making-robert-e-hall-9780691142425","provider":"WR Book House","version":"1.0","type":"link"}