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Books > Reference & Interdisciplinary > Communication studies > Information theory > Cybernetics & systems theory
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Optimal Control Methods for Linear Discrete-Time Economic Systems (Paperback, Softcover reprint of the original 1st ed. 1982)
Loot Price: R1,573
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Optimal Control Methods for Linear Discrete-Time Economic Systems (Paperback, Softcover reprint of the original 1st ed. 1982)
Expected to ship within 10 - 15 working days
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As our title reveals, we focus on optimal control methods and
applications relevant to linear dynamic economic systems in
discrete-time variables. We deal only with discrete cases simply
because economic data are available in discrete forms, hence
realistic economic policies should be established in discrete-time
structures. Though many books have been written on optimal control
in engineering, we see few on discrete-type optimal control. More
over, since economic models take slightly different forms than do
engineer ing ones, we need a comprehensive, self-contained
treatment of linear optimal control applicable to discrete-time
economic systems. The present work is intended to fill this need
from the standpoint of contemporary macroeconomic stabilization.
The work is organized as follows. In Chapter 1 we demonstrate
instru ment instability in an economic stabilization problem and
thereby establish the motivation for our departure into the optimal
control world. Chapter 2 provides fundamental concepts and
propositions for controlling linear deterministic discrete-time
systems, together with some economic applica tions and numerical
methods. Our optimal control rules are in the form of feedback from
known state variables of the preceding period. When state variables
are not observable or are accessible only with observation errors,
we must obtain appropriate proxies for these variables, which are
called "observers" in deterministic cases or "filters" in
stochastic circumstances. In Chapters 3 and 4, respectively,
Luenberger observers and Kalman filters are discussed, developed,
and applied in various directions. Noticing that a separation
principle lies between observer (or filter) and controller (cf."
General
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