Optimal Control, Expectations and Uncertainty (Paperback) (ISBN-13: 9780521126335)

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.

Author: Sean Holly, Andrew Hughes Hallet, Andrew Hughes Hallett
ISBN-10: 0521126339
ISBN-13: 9780521126335
Publisher: Cambridge University Press
Language: English
Published: 01/14/2010
Pages: 260
Format: Paperback
Weight: 0.85lbs
Size: 9.00h x 6.00w x 0.59d