How Long to Read Probability Models for Economic Decisions, second edition

How Long Does it Take to Read Probability Models for Economic Decisions, second edition?

It takes the average reader 9 hours and 49 minutes to read Probability Models for Economic Decisions, second edition by Roger B. Myerson

Assuming a reading speed of 250 words per minute. Learn more

Description

An introduction to the use of probability models for analyzing risk and economic decisions, using spreadsheets to represent and simulate uncertainty. This textbook offers an introduction to the use of probability models for analyzing risks and economic decisions. It takes a learn-by-doing approach, teaching the student to use spreadsheets to represent and simulate uncertainty and to analyze the effect of such uncertainty on an economic decision. Students in applied business and economics can more easily grasp difficult analytical methods with Excel spreadsheets. The book covers the basic ideas of probability, how to simulate random variables, and how to compute conditional probabilities via Monte Carlo simulation. The first four chapters use a large collection of probability distributions to simulate a range of problems involving worker efficiency, market entry, oil exploration, repeated investment, and subjective belief elicitation. The book then covers correlation and multivariate normal random variables; conditional expectation; optimization of decision variables, with discussions of the strategic value of information, decision trees, game theory, and adverse selection; risk sharing and finance; dynamic models of growth; dynamic models of arrivals; and model risk. New material in this second edition includes two new chapters on additional dynamic models and model risk; new sections in every chapter; many new end-of-chapter exercises; and coverage of such topics as simulation model workflow, models of probabilistic electoral forecasting, and real options. The book comes equipped with Simtools, an open-source, free software used througout the book, which allows students to conduct Monte Carlo simulations seamlessly in Excel.

How long is Probability Models for Economic Decisions, second edition?

Probability Models for Economic Decisions, second edition by Roger B. Myerson is 569 pages long, and a total of 147,371 words.

This makes it 192% the length of the average book. It also has 180% more words than the average book.

How Long Does it Take to Read Probability Models for Economic Decisions, second edition Aloud?

The average oral reading speed is 183 words per minute. This means it takes 13 hours and 25 minutes to read Probability Models for Economic Decisions, second edition aloud.

What Reading Level is Probability Models for Economic Decisions, second edition?

Probability Models for Economic Decisions, second edition is suitable for students ages 12 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Probability Models for Economic Decisions, second edition?

Probability Models for Economic Decisions, second edition by Roger B. Myerson is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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