Developments of Control Theory for Economic Analysis

Name: Developments of Control Theory for Economic Analysis
Brand: Springer
SKU: 9789024733453
Price: 80649 HUF
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Szerző: Carlo Carraro, D. Sartore

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Kötés: Kemény kötésű

Kiadó: Springer

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Giovanni Castellani Rector of the University of Venice This book contains the Proceedings of the Con...

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Szerző

Carlo Carraro, D. Sartore

Nyelv

Angol

Kötés

Könyv - Kemény kötésű

oldal

340

EAN

9789024733453

ISBN

9024733456

Enbook ID

01969476

Kiadó

Springer

Súly

1530

Méretek

155 x 235 x 24

Teljes leírás

Giovanni Castellani Rector of the University of Venice This book contains the Proceedings of the Conference on "Economic Policy and Control Theory" which was held at the University of Venice (Italy) on 27 January-l February 1985. The goal of the Conference was to survey the main developments of control theory in economics, by emphasizing particularly new achievements in the analysis of dynamic economic models by con trol methods. The development of control theory is strictly related to the development of science and technology in the last forty years. Control theory was indeed applied mainly in engineering, and only in the sixties economists started using control methods for analys ing economic problems, even if some preliminary economic applica tions of calculus of variations, from which control theory was then developed, date back to the twenties. Applications of control theory in economics also had to solve new, complicated, problems, like those encountered in optimal growth models, or like the determination of the appropriate inter temporal social welfare function, of the policy horizon and the relative final state of the system, of the appropriate discount factor. Furthermore, the uncertainty characterizing economic models had to be taken into account, thus giving rise to the development of stochastic control theory in economics.

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Developments of Control Theory for Economic Analysis

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