Title :
Stochastic control in economic theory and economic systems
Author_Institution :
University of California, Los Angeles, CA, USA
fDate :
4/1/1976 12:00:00 AM
Abstract :
This paper argues, by means of several examples, that system theory and stochastic control theory are useful and even essential to solve some problems in microeconomics and macroeconomics. It also briefly indicates some potential areas of applications of stochastic control theory to problems in economic theory and regulation of economics.
Keywords :
Bibliographies; Economics; Optimal stochastic control; Stochastic optimal control; Stochastic systems; Centralized control; Control engineering; Control systems; Control theory; Economics; Macroeconomics; Microeconomics; Statistical analysis; Stochastic processes; Stochastic systems;
Journal_Title :
Automatic Control, IEEE Transactions on
DOI :
10.1109/TAC.1976.1101197
