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cost of communication is endogenized using information theory, all words in an optimal language are equally precise and …
Persistent link: https://www.econbiz.de/10012893300
This chapter discusses personal financial planning, which is an interdisciplinary practice that employs a six-step process to develop integrated strategies for individuals and families to efficiently mobilize their human and financial capital to achieve their life goals. Financial planning draws...
Persistent link: https://www.econbiz.de/10012954723
We explore reinforcement learning methods for finding the optimal policy in the linear quadratic regulator (LQR) problem. In particular we consider the convergence of policy gradient methods in the setting of known and unknown parameters. We are able to produce a global linear convergence...
Persistent link: https://www.econbiz.de/10013251559
An uninformed sender designs a mechanism that discloses information about her type to a privately informed receiver, who then decides whether to act. I impose a single-crossing assumption, so that the receiver with a higher type is more willing to act. Using a linear programming approach, I...
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We apply duality methods of linear and convex programming to the problems of operation and rental valuation of facilities for conversion and storage of cyclically priced goods, e.g. , energy. Both problems are approached by shadow-pricing the stock (which is a purely intermediate commodity); and...
Persistent link: https://www.econbiz.de/10012771141
Simon's (1955) famous paper was one of the first to cast doubt on the validity of rational choice theory; it has been … supplemented by many more papers in the last three and a half decades. Nevertheless, rational choice theory plays a crucial role in … classical and neoclassical economic theory, which presumes a completely rational agent. The central points characterizing such …
Persistent link: https://www.econbiz.de/10014068431