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    3. Optimal Control, Expectations and Uncertainty

    Optimal Control, Expectations and Uncertainty

    Posted By: step778
    Date: 21 Aug 2018 13:31:50
    Optimal Control, Expectations and Uncertainty

    Sean Holly, Andrew Hughes Hallet, "Optimal Control, Expectations and Uncertainty"
    2010 | pages: 256 | ISBN: 0521126339 | DJVU | 1,5 mb

    The rational expectations revolution and other developments in economics (notably game theory) have fundamentally altered the application of optimal control theory to economic forecasting and planning. In particular, they have shown that economic systems cannot be modeled simplistically on physical systems. However, as the authors show, these developments have greatly enhanced our understanding of how an economy functions, and now make it possible for optimal control theory to be applied much more effectively to economic modeling and planning.

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