Optimal Switching in an Economic Activity under Uncertainty
نویسندگان
چکیده
منابع مشابه
Economic Rationality under Uncertainty
Though uncertainty pervades all aspects of life and human action, it has a rather short history in economics. Surprisingly, Daniel Bernoulli’s (1738) notion of expected utility, which suggests that (in games of chance) monetary risky ventures ought to be evaluated by the sum of utilities of outcomes weighted by the corresponding probabilities, was not immediately used in economic theory. Indeed...
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ژورنال
عنوان ژورنال: SIAM Journal on Control and Optimization
سال: 1994
ISSN: 0363-0129,1095-7138
DOI: 10.1137/s0363012992229835