Optimal control theory provides a mathematical framework for devising strategies that steer dynamical systems towards a desired performance while minimising a prescribed cost function. In recent ...
This is a preview. Log in through your library . Abstract The long adjustment times implied by the neoclassical growth model are reviewed.The model is transformed into state-space notation, and the ...
A new theory of economic decision-making offers an explanation as to why humans, in general, make decisions that are simply adequate, not optimal. A new theory of economic decision-making from Mina ...
https://doi.org/10.15609/annaeconstat2009.133.0109 • https://www.jstor.org/stable/10.15609/annaeconstat2009.133.0109 Copy URL This paper studies the optimal ...
In a three-way allocation, the Nobel Memorial Prize in Economic Science was awarded moments ago to Leonid Hurwicz, of the University of Minnesota-Twin Cities; Eric S. Maskin, of the Institute for ...
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