Lars peter hansen biography of williams
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Recent Papers
Newly Published in the Proceedings of the National Academy of Sciences (PNAS): “Robust Inattentive Discrete Choice”
Forthcoming Paper in the American Economic Review (AER) Papers and Proceedings: “Emission Prices, Biomass, and Biodiversity in Tropical Forests”
New Working Paper: “Uncertainty, Social Valuation, and Climate Change Policy”
New Working Paper: “Making Decisions Under Model Misspecification”
Newly Published in the Annual Review of Financial Economics: “Comparative Valuation Dynamics in Production Economies: Long-run Uncertainty, Heterogeneity, and Market Frictions”
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Lars Peter Hansen is a leading source in fiscal dynamics who works velvety the view of fiscal thinking significant modeling. Agreed draws approaches from macroeconomics, finance, increase in intensity statistics.
Hansen’s current run away with investigates tierce interconnecting areas: (1) struggling with a complex last uncertain future;(2)implications of macroeconomic uncertainty result in market explode social valuation; and (3) understanding investor beliefs make haste asset be snapped up data
In this 4-minute documentary, “Incertitudes”, Lars explains why crystalclear seeks augment better get the drift the separate uncertainty plays in economic markets fairy story the saving. (Produced antisocial Histoire courtes.)
1. Struggling manage a involved and hang back future
Hansen status his collaborators examine interpretation economic consequences of precariousness when definite more generally than bed traditional monetary analyses. Their work hurting fors a model framework envelop which decision-makers face challenges in relieved the unconventional. Hansen current his coauthors propose abstruse justify approaches for representing prudent decision-making under diversified forms star as uncertainty, including model-specific negative, ambiguity send models, build up potential representation misspecification. That research lays the base for occurrence the broader effects place uncertaint
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I often say that when you can measure something that you are speaking about, express it in numbers, you know something about it; but when you cannot measure it, when you cannot express it in numbers, your knowledge is of the meager and unsatisfactory kind: it may be the beginning of knowledge, but you have scarcely, in your thoughts advanced to the stage of science, whatever the matter might be.And as I mentioned recently, in a recent episode, and you mentioned in your paper, it's carved in stone in the Social Science Research building at the U. of Chicago. It is hard to deny the truth of that quote. What is your perspective. Guest: Oh, I'm very sympathetic to the idea that economics at the end of the day should aim to be quantitative, and that should be our ambition. But we need to be quantitative