Optimal Control, Expectations and Uncertainty

by Sean Holly, Andrew Hughes Hallett, Andrew Hughes Hallet

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...

• 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"