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Description - Optimal Control, Expectations and Uncertainty by Sean Holly

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.

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Book Details

ISBN: 9780521264440
ISBN-10: 0521264448
Format: Hardback
(204mm x 159mm x 19mm)
Pages: 260
Imprint: Cambridge University Press
Publisher: Cambridge University Press
Publish Date: 20-Jul-1989
Country of Publication: United Kingdom

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