Optimal Control, Expectations and Uncertainty
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Book Overview
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.
Format:Paperback
Language:English
ISBN:0521126339
ISBN13:9780521126335
Release Date:January 2010
Publisher:Cambridge University Press
Length:260 Pages
Weight:0.85 lbs.
Dimensions:0.6" x 6.0" x 9.0"
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