://repec.org/ Abstract This paper shows that optimal policy and consistent policy outcomes require the use of control-theory and game … control theory provides a benchmark for institution design in a game-theoretical framework. Journal of Economic Literature … control-theory and game- theory solution techniques. By analyzing consistent policy and its outcome, we find that the source …

paper shows that optimal policy and consistent policy outcomes require the use of control-theory and game-theory solution … model, using control-theory and game- theory solution techniques. By analyzing consistent policy and its outcome, we find … is no way control theory can be made applicable to economic planning when expectations are rational.” (p. 473) But in …

paper develops deterministic optimal control theory for recursive in- tertemporal optimization problems where there is a …. This is the special case of problem (1)-(2) with D =0. From optimal control theory, with D =0, we know that un- der … standard result of optimal control theory (Arrow and Kurz, 1970) that the optimal control u ∗ = u(x,q) defined through (7 …

-agent problems can be characterized without using optimal control theory. …