:Willingness To Pay -- Endowing Exchange Values: Adam Smith’s Invisible Man -- Why Viability Theory? -- What Is to Be Done?. …This authored monograph presents an unconventional approach to an important topic in economic theory. The author is an … expert in the field of viability theory which was motivated by economics at the end of the 1970's (see Dynamic Economic …

. Chapter 1 gives a brief introduction to the classical theory on both discrete and continuous time Markov chains. The … relationship between Markov chains of finite states and matrix theory will also be highlighted. Some classical iterative methods …-order Markov chain models, particularly a class of parsimonious higher-order Markov chain models. Efficient estimation methods for …

-- Parameter estimation in a weak hidden Markov model with independent drift and volatility -- Parameter estimation in a regime … science that will be covered are: interest rate theory, fixed-income instruments, currency market, annuity and insurance …