Optimal Control, Expectations and Uncertainty

Optimal Control, Expectations and Uncertainty

Editorial Reviews
Book Description
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.

Optimal Control, Expectations and Uncertainty,Sean Holly,Andrew Hughes Hallet,Cambridge University Press,0521264448,Business & Economics,Business / Economics / Finance,Business/Economics,Control theory,Economics,Economics - General,Economics - Macroeconomics,Mathematical Models In Economics,Mathematical models,Rational expectations (Economi,Rational expectations (Economic theory),Uncertainty,Business & Economics / Macroeconomics,Economics--Mathematical models,Macroeconomics

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