Title :
Control theory in economic models: A survey
Author_Institution :
The University of Texas, Austin, Texas
Abstract :
Many economic problems are naturally modeled as dynamic optimization problems, therefore control theory methods have already found substantial use in economics and are likely to find increasing use in the future. A survey is presented here of the principal uses of control theory by economists in macroeconomic (economy wide) and microeconomic (firm, personal, or sectoral) problems.
Keywords :
Chemical analysis; Control theory; Industrial control; Investments; Jacobian matrices; Machinery; Macroeconomics; Microeconomics; Stochastic processes; Unemployment;
Conference_Titel :
Decision and Control, 1971 IEEE Conference on
Conference_Location :
Miami Beach, FL, USA
DOI :
10.1109/CDC.1971.270954
