Optimal control, expectations and uncertainty

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 modelled simplistically on physical...

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1. Verfasser: Holly, Sean (VerfasserIn)
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: Cambridge Cambridge University Press 1989
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Datensatz im Suchindex

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author Holly, Sean
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dewey-sort 3330 11 251
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discipline Wirtschaftswissenschaften
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Optimal control, expectations and uncertainty Sean Holly, Andrew Hughes Hallett
Optimal Control, Expectations & Uncertainty
Cambridge Cambridge University Press 1989
1 online resource (ix, 244 pages)
txt rdacontent
c rdamedia
cr rdacarrier
Title from publisher's bibliographic system (viewed on 05 Oct 2015)
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 modelled simplistically on physical systems. However, as the authors of this volume 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 modelling and planning. This book is divided into two parts. The first presents the orthodox framework but extends it to allow for multiplicative uncertainty, risk and non-linearities in the econometric model. The second part looks explicitly at the question of expectations. It provides methods by which forward-looking expectations can be treated jointly with the determination of economic policy. It also examines game-theoretic considerations - where, for instance, policy makers may have incentive to renege on their commitments
Mathematisches Modell
Wirtschaft
Economics / Mathematical models
Control theory
Rational expectations (Economic theory)
Uncertainty
Kontrolltheorie (DE-588)4032317-1 gnd rswk-swf
Unsicherheit (DE-588)4186957-6 gnd rswk-swf
Wirtschaftstheorie (DE-588)4079351-5 gnd rswk-swf
Rationale Erwartung (DE-588)4121553-9 gnd rswk-swf
Mathematisches Modell (DE-588)4114528-8 gnd rswk-swf
Entscheidung bei Unsicherheit (DE-588)4070864-0 gnd rswk-swf
Rationalität (DE-588)4048507-9 gnd rswk-swf
Wirtschaftsmodell (DE-588)4079348-5 gnd rswk-swf
Optimale Kontrolle (DE-588)4121428-6 gnd rswk-swf
Unsicherheit (DE-588)4186957-6 s
Wirtschaftstheorie (DE-588)4079351-5 s
Mathematisches Modell (DE-588)4114528-8 s
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Rationale Erwartung (DE-588)4121553-9 s
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Entscheidung bei Unsicherheit (DE-588)4070864-0 s
Kontrolltheorie (DE-588)4032317-1 s
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Rationalität (DE-588)4048507-9 s
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5\p DE-604
Optimale Kontrolle (DE-588)4121428-6 s
Wirtschaftsmodell (DE-588)4079348-5 s
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7\p DE-604
Hughes Hallett, Andrew Sonstige oth
Erscheint auch als Druckausgabe 978-0-521-12633-5
Erscheint auch als Druckausgabe 978-0-521-26444-0
https://doi.org/10.1017/CBO9780511521973 Verlag URL des Erstveröffentlichers Volltext
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4\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk
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7\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk
spellingShingle Holly, Sean
Optimal control, expectations and uncertainty
Mathematisches Modell
Wirtschaft
Economics / Mathematical models
Control theory
Rational expectations (Economic theory)
Uncertainty
Kontrolltheorie (DE-588)4032317-1 gnd
Unsicherheit (DE-588)4186957-6 gnd
Wirtschaftstheorie (DE-588)4079351-5 gnd
Rationale Erwartung (DE-588)4121553-9 gnd
Mathematisches Modell (DE-588)4114528-8 gnd
Entscheidung bei Unsicherheit (DE-588)4070864-0 gnd
Rationalität (DE-588)4048507-9 gnd
Wirtschaftsmodell (DE-588)4079348-5 gnd
Optimale Kontrolle (DE-588)4121428-6 gnd
subject_GND (DE-588)4032317-1
(DE-588)4186957-6
(DE-588)4079351-5
(DE-588)4121553-9
(DE-588)4114528-8
(DE-588)4070864-0
(DE-588)4048507-9
(DE-588)4079348-5
(DE-588)4121428-6
title Optimal control, expectations and uncertainty
title_alt Optimal Control, Expectations & Uncertainty
title_auth Optimal control, expectations and uncertainty
title_exact_search Optimal control, expectations and uncertainty
title_full Optimal control, expectations and uncertainty Sean Holly, Andrew Hughes Hallett
title_fullStr Optimal control, expectations and uncertainty Sean Holly, Andrew Hughes Hallett
title_full_unstemmed Optimal control, expectations and uncertainty Sean Holly, Andrew Hughes Hallett
title_short Optimal control, expectations and uncertainty
title_sort optimal control expectations and uncertainty
topic Mathematisches Modell
Wirtschaft
Economics / Mathematical models
Control theory
Rational expectations (Economic theory)
Uncertainty
Kontrolltheorie (DE-588)4032317-1 gnd
Unsicherheit (DE-588)4186957-6 gnd
Wirtschaftstheorie (DE-588)4079351-5 gnd
Rationale Erwartung (DE-588)4121553-9 gnd
Mathematisches Modell (DE-588)4114528-8 gnd
Entscheidung bei Unsicherheit (DE-588)4070864-0 gnd
Rationalität (DE-588)4048507-9 gnd
Wirtschaftsmodell (DE-588)4079348-5 gnd
Optimale Kontrolle (DE-588)4121428-6 gnd
topic_facet Mathematisches Modell
Wirtschaft
Economics / Mathematical models
Control theory
Rational expectations (Economic theory)
Uncertainty
Kontrolltheorie
Unsicherheit
Wirtschaftstheorie
Rationale Erwartung
Entscheidung bei Unsicherheit
Rationalität
Wirtschaftsmodell
Optimale Kontrolle
url https://doi.org/10.1017/CBO9780511521973
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