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Optimal control of nonlinear dynamic econometric models: An algorithm and an application

โœ Scribed by V. Blueschke-Nikolaeva; D. Blueschke; R. Neck


Book ID
113557631
Publisher
Elsevier Science
Year
2012
Tongue
English
Weight
512 KB
Volume
56
Category
Article
ISSN
0167-9473

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Direct solution to an optimal control pr
โœ D. G. Kabe; U. L. Gouranga Rao ๐Ÿ“‚ Article ๐Ÿ“… 1986 ๐Ÿ› John Wiley and Sons ๐ŸŒ English โš– 198 KB

A direct solution is proposed to an optimal control problem of linear econometric systems with a quadratic welfare loss function when there are linear equality constraints on the control variables. The direct solution proposed here eliminates the problem of non-uniqueness of the optimal solution, wh