Irreversible Decisions under Uncertainty Optimal Stopping Made Easy /

• Main Authors: Boyarchenko, Svetlana (Author), Levendorskii, Sergei (Author)
• Corporate Author: SpringerLink (Online service)
• Format: Electronic eBook
• Language: English
• Published: Berlin, Heidelberg : Springer Berlin Heidelberg, 2007.
• Series: Studies in Economic Theory, 27
• Subjects: Finance.; Game theory.; Economic theory.; Economics.; Economic Theory/Quantitative Economics/Mathematical Methods.; Finance, general.; Game Theory, Economics, Social and Behav. Sciences.

In real life, as well as in economic models, individuals often make decisions in an uncertain environment. In many cases, a problem which an optimizing agent faces can be formulated or reformulated as a problem of optimal timing of a certain irreversible or partially reversible action or optimal sto...