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Design of Optimal Policies: A Variable Structure Control Approach.

This paper introduces methods of variable structure control (VSC) theory to economists. The VSC design is based on closed loop optimal control solutions. It is shown that VSC can yield stable solutions in the presence of parameter errors whereas conventional closed loop optimal control solutions become unstable. The methodology is applied to a simple economic model. Copyright 1994 by Kluwer Academic Publishers
Year of publication:
1994
Authors: Fanchon, Phillip ; Fadali, Sami
Published in:
Economic Change and Restructuring. - Springer, ISSN 1573-9414. - Vol. 27.1994, 2, p. 93-116
Publisher: Springer
Type of publication: Article
Source:
Persistent link: https://www.econbiz.de/10005067818
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