The Gorman Lectures in Economics6
Richard Blundell, Series Editor
Established in 2001, the Gorman Lectures are cosponsored by University College London (UCL) and Princeton University Press, and are held annually in honor of the influential economist William Moore "Terence" Gorman. The lectures feature a different leading economist each year, and range widely across an array of subdisciplines in economics.
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Increasing inequality, the impact of globalization, and the disparate effects of financial regulation and innovation are extraordinarily important topics that fuel spirited policy debates. And yet the facts underlying these debates are...
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Over the past few decades, matching models, which use mathematical frameworks to analyze allocation mechanisms for heterogeneous products and individuals, have attracted renewed attention in both theoretical and applied economics. These...
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A common set of mathematical tools underlies dynamic optimization, dynamic estimation, and filtering. In Recursive Models of Dynamic Linear Economies, Lars Peter Hansen and Thomas Sargent use these tools to create a class of...
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It is widely held that Bayesian decision theory is the final word on how a rational person should make decisions. However, Leonard Savage--the inventor of Bayesian decision theory--argued that it would be ridiculous to use his theory...
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Individuals 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...
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How can property rights be protected and contracts be enforced in countries where the rule of law is ineffective or absent? How can firms from advanced market economies do business in such circumstances? In Lawlessness and Economics...