Iterative design of economic models via
β
M.H. Breitner; B. Koslik; O. von Stryk; H.J. Pesch
π
Article
π
1995
π
Elsevier Science
π
English
β 305 KB
Microeconomic models, e.g., concern models, usually suffer from too simple dynamic equations and from too unrealistic economic data. In the paper, a new iterative design method is presented, which consists of numerical simulation, numerical solution of optimal control problems by direct optimization