Customer Reviews

Probability Models for Economic Decisions (with CD-ROM) (Duxbury Applied)

5 star:		(3)
4 star:		(1)
3 star:		(1)
2 star:		(0)
1 star:		(0)

 

 

Mr. Myerson is one of the most gifted professors I have ever had, and an incredible human being. In 1999 I had the pleasure and honor to attend his classes at Kellogg Graduate School of Management, and in 10 weeks I learned more about probability theory and how to apply it to solve real life problems, than in my whole undergraduate studies of mathematics. At that time this book did not exist and we used his teaching notes, which were fully incorporated and expanded in the book format. If you are a novice to the field you will probably be better off by reading it from the beginning, otherwise go ahead and jump to the chapter that most interests you. Anyway you will soon realize that Prof. Myerson's approach is very straightforward: broad strokes of theory to make you understand the general direction, and a lot of hands-on excel modeling to bring to live the concepts and key insights about the situation under scrutiny. So if you are a pragmatic person, don't have time or patient for mathematical theorems, and need to get things done for your company, your client or yourself, this is the book for you! THUMBS UP

I wanted to love this book. By the title it is exactly what I was looking for for my PhD research. However, I am a computer scientist and am disappointed that models for probability and decision theory were left out of the book. Much of what he is discussing can be represented by Bayesian models such as belief nets and influence diagrams. I think the book will still be valuable, but is oriented more towards statisticians who are using Excel as their only tool.

I've been using this book for self study. Probability is not an easy subject. Probability models for economic decisions, these are much more difficult topics! However the author did a great job. The book is written in a clear form and the models developed step by step, making things very easy to understand! For sure I recommend this book! Probability Models for Economic Decisions (with CD-ROM) (Duxbury Applied)

Sir this is an excellent book. It is very well written, solid and easy to follow. For me as a practioner has been very useful in clarifying very important concepts, and also comunicating greater confidence in the application of this models. I give 5 stars to the book

This book is very useful in gaining skills to analyze stock and market behavior. Even though it is usually taught in class. But I believe every individual who is dealing with principles of Economics must have this book as a guide to better decision making through Simulation process.