Optimal Control, Expectations and Uncertainty - Couverture rigide

Holly, Sean; Hughes Hallet, Andrew

 
9780521264440: Optimal Control, Expectations and Uncertainty
Couverture rigide
ISBN 10 : 0521264448 ISBN 13 : 9780521264440
Editeur : Cambridge University Press, 1989

Synopsis

An examination of how the rational expectations revolution and game theory have enhanced the understanding of how an economy functions.

Les informations fournies dans la section « Synopsis » peuvent faire référence à une autre édition de ce titre.

Présentation de l'éditeur

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.

Revue de presse

"...a nicely written book that covers a wealth of optimization tools originating from optimal and stochastic control and game theory, in a context of policy making in economics....a good introduction to the topic for those who would want to pursue research in dynamic decision making under uncertainty." Tamer Ba^D,sar, Mathematical Reviews

Les informations fournies dans la section « A propos du livre » peuvent faire référence à une autre édition de ce titre.

Éditeur
Cambridge University Press
Date d'édition
1989
Langue
anglais
ISBN 10 
0521264448
ISBN 13 
9780521264440
Reliure
Relié
Nombre de pages
260
Coordonnées du fabricant
non disponible
Personne responsable
Avery
https://www.avery.fr/

chemin des peupliers 27
Dardilly
France

Autres éditions populaires du même titre

9780521126335: Optimal Control, Expectations and Uncertainty

Edition présentée

ISBN 10 :  0521126339 ISBN 13 :  9780521126335
Editeur : Cambridge University Press, 2010
Couverture souple