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Control Theory Methods in Economics
Sengupta, Jati K.; Fanchon, Phillip
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Description for Control Theory Methods in Economics
Paperback. Num Pages: 258 pages, biography. BIC Classification: KCH; KJT; PBKA. Category: (P) Professional & Vocational. Dimension: 234 x 156 x 14. Weight in Grams: 421.
Control theory methods in economics have historically developed over three phases. The first involved basically the feedback control rules in a deterministic framework which were applied in macrodynamic models for analyzing stabilization policies. The second phase raised the issues of various types of inconsistencies in deterministic optimal control models due to changing information and other aspects of stochasticity. Rational expectations models have been extensively used in this plan to resolve some of the inconsistency problems. The third phase has recently focused on the various aspects of adaptive control. where stochasticity and information adaptivity are introduced in diverse ways e.g .• ... Read more
Control theory methods in economics have historically developed over three phases. The first involved basically the feedback control rules in a deterministic framework which were applied in macrodynamic models for analyzing stabilization policies. The second phase raised the issues of various types of inconsistencies in deterministic optimal control models due to changing information and other aspects of stochasticity. Rational expectations models have been extensively used in this plan to resolve some of the inconsistency problems. The third phase has recently focused on the various aspects of adaptive control. where stochasticity and information adaptivity are introduced in diverse ways e.g .• ... Read more
Product Details
Format
Paperback
Publication date
2012
Publisher
Springer-Verlag New York Inc. United States
Number of pages
258
Condition
New
Number of Pages
258
Place of Publication
New York, NY, United States
ISBN
9781461378853
SKU
V9781461378853
Shipping Time
Usually ships in 15 to 20 working days
Ref
99-15
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