Frontmatter -- Contents -- Preface -- Introduction -- PART I. Once Over Lightly . . . -- 1. Growth Model in Excel -- 2. Neural Nets in Excel -- 3. Partial Equilibrium in Mathematica -- 4. Transportation in GAMS -- 5. Databases in Access -- 6. Thrift in GAMS (with Genevieve Solomon) -- 7....

Our concern in this paper is that the capability of economics undergraduates is substantially underestimated in the design of the present college curriculum and that our students are insufficiently challenged and motivated. Students enter our classrooms with substantial previous knowledge about...

This article analyzes the trade-off between ÏcautionÓ and ÏintensityÓ in the use of the control variable in a one-state one-control dynamic stochastic quadratic linear optimization problem with discount factor. It studies the effects that changes in uncertainty of the control parameter have...

Three methods have been developed by the authors for solving optimal experimentation problems. David Kendrick (1981, 2002, Ch.10) uses quadratic approximation of the value function and linear approximation of the equation of motion to simulate general optimal experimentation (active learning)...

In this paper, we present a method for using rational expectations in a stochastic linear-quadratic optimization framework in which the unknown parameters are updated through a learning scheme. We use the QZ decomposition as suggested by Sims (1996) to solve the rational-expectations part of the...

\\begin{abstract} Lucas (1976) pointed out, that when optimization is performed on a deterministic macro model, the resulting policy may not reflect the true optimal solution. Private agents may react to announced policies and consequently model parameters will start to drift. The aim of this...

Lucas (1976) pointed out, that when optimization is performed on a deterministic macro model, the resulting policy may not reflect the true optimal solution. Private agents may react to announced policies and consequently model parameters will start to drift. The aim of this paper is to develop...