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(Ebook) Optimal Control, Expectations and Uncertainty by Sean Holly, Andrew Hughes Hallet ISBN 9780511521973, 9780521126335, 9780521264440, 0511521979, 0521126339, 0521264448

  • SKU: EBN-2012306
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Authors:Sean Holly, Andrew Hughes Hallet
Pages:260 pages.
Year:2010
Editon:1
Publisher:Cambridge University Press
Language:english
File Size:5.97 MB
Format:pdf
ISBNS:9780511521973, 9780521126335, 9780521264440, 0511521979, 0521126339, 0521264448
Categories: Ebooks

Product desciption

(Ebook) Optimal Control, Expectations and Uncertainty by Sean Holly, Andrew Hughes Hallet ISBN 9780511521973, 9780521126335, 9780521264440, 0511521979, 0521126339, 0521264448

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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