Research on feedback tracking control for disequilibrium cobweb model based on LMI algorithms

A new design scheme of tracking control for a class of typical disequilibrium cobweb models is proposed in this paper. From the viewpoint of economic control theory , dynamic analysis method is used to study the stability of disequilibrium market containing the expected price, the controllability of the expected price and the tracking performance of the error between demand and supply. The design is based on the principle of dynamic feedback control and the algorithms of linear matrix inequation (LMI). By defining state feedback control input and corresponding Lyapunov function, multiple control objectives including stabilization, tracking performance and robustness can be guaranteed simultaneously. Simulation results show the proposed dynamic approach is effective and adaptable for economic reality.