Control Theory and Dynamic Games in Economic Policy Analysis PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Control Theory and Dynamic Games in Economic Policy Analysis PDF full book. Access full book title Control Theory and Dynamic Games in Economic Policy Analysis by Maria Luisa Petit. Download full books in PDF and EPUB format.
Author: Josef Haunschmied Publisher: Springer ISBN: 3642542484 Category : Mathematics Languages : en Pages : 321
Book Description
Dynamic game theory serves the purpose of including strategic interaction in decision making and is therefore often applied to economic problems. This book presents the state-of-the-art and directions for future research in dynamic game theory related to economics. It was initiated by contributors to the 12th Viennese Workshop on Optimal Control, Dynamic Games and Nonlinear Dynamics and combines a selection of papers from the workshop with invited papers of high quality.
Author: Reinhard Neck Publisher: Springer Science & Business Media ISBN: 3540746846 Category : Political Science Languages : en Pages : 386
Book Description
Econometric techniques and models are still being extensively used in the business of forecasting and policy advice. This book presents recent advances in the theory and applications of quantitative economic policy, with particular emphasis on fiscal and monetary policies in a European and global context. The volume honors Andrew Hughes Hallett, a pioneer and major scientist in quantitative economic policy analysis, whose contributors are among his friends and former students.
Author: R. Neck Publisher: Elsevier ISBN: 008053659X Category : Business & Economics Languages : en Pages : 443
Book Description
This volume contains papers presented at the IFAC symposium on Modeling and control of Economic Systems (SME 2001), which was held at the university of Klagenfurt, Austria. The symposium brought together scientists and users to explore current theoretical developments of modeling techniques for economic systems. It contains a section of plenary, invited and contributed papers presented at the SME 2001 symposium. The papers presented in this volume reflect advances both in methodology and in applications in the area of modeling and control of economic systems.
Author: Engelbert J. Dockner Publisher: Springer Science & Business Media ISBN: 3642576842 Category : Business & Economics Languages : en Pages : 434
Book Description
This book includes a collection of articles that present recent developments in the fields of optimization and dynamic game theory, economic dynamics, dynamic theory of the firm, and population dynamics and non standard applications of optimal control theory. The authors of the articles are well respected authorities in their fields and are known for their high quality research in the fields of optimization and economic dynamics.
Author: Thomas A. Weber Publisher: MIT Press ISBN: 0262015730 Category : Business & Economics Languages : en Pages : 387
Book Description
A rigorous introduction to optimal control theory, with an emphasis on applications in economics. This book bridges optimal control theory and economics, discussing ordinary differential equations, optimal control, game theory, and mechanism design in one volume. Technically rigorous and largely self-contained, it provides an introduction to the use of optimal control theory for deterministic continuous-time systems in economics. The theory of ordinary differential equations (ODEs) is the backbone of the theory developed in the book, and chapter 2 offers a detailed review of basic concepts in the theory of ODEs, including the solution of systems of linear ODEs, state-space analysis, potential functions, and stability analysis. Following this, the book covers the main results of optimal control theory, in particular necessary and sufficient optimality conditions; game theory, with an emphasis on differential games; and the application of control-theoretic concepts to the design of economic mechanisms. Appendixes provide a mathematical review and full solutions to all end-of-chapter problems. The material is presented at three levels: single-person decision making; games, in which a group of decision makers interact strategically; and mechanism design, which is concerned with a designer's creation of an environment in which players interact to maximize the designer's objective. The book focuses on applications; the problems are an integral part of the text. It is intended for use as a textbook or reference for graduate students, teachers, and researchers interested in applications of control theory beyond its classical use in economic growth. The book will also appeal to readers interested in a modeling approach to certain practical problems involving dynamic continuous-time models.
Author: Nicola Acocella Publisher: Cambridge University Press ISBN: 1139789651 Category : Political Science Languages : en Pages : 367
Book Description
In developing a new and highly innovative theory of economic policy, this book deals with conflicts between strategic actions by public and private agents. It builds on the Lucas critique but also applies the tools introduced by Tinbergen and Theil to dynamic policy games, and from there derives a new theory of economic policy. Its main propositions describe such properties in the models currently used for policy-making as neutrality and equilibrium existence, uniqueness, and multiplicity. These properties are key to understanding the impact of concepts such as rational expectations, time inconsistency, communication and the use of policy announcements. As the numerous examples show, they are useful both for model building and for devising optimal institutions. The Theory of Economic Policy in a Strategic Context is an essential but accessible tool for economic researchers involved in policy questions.
Author: Herbert Dawid Publisher: Springer Science & Business Media ISBN: 3642169430 Category : Business & Economics Languages : en Pages : 217
Book Description
This volume is centered around the issue of market design and resulting market dynamics. The economic crisis of 2007-2009 has once again highlighted the importance of a proper design of market protocols and institutional details for economic dynamics and macroeconomics. Papers in this volume capture institutional details of particular markets, behavioral details of agents' decision making as well as spillovers between markets and effects to the macroeconomy. Computational methods are used to replicate and understand market dynamics emerging from interaction of heterogeneous agents, and to develop models that have predictive power for complex market dynamics. Finally treatments of overlapping generations models and differential games with heterogeneous actors are provided.
Author: David González-Sánchez Publisher: Springer Science & Business Media ISBN: 331901059X Category : Science Languages : en Pages : 81
Book Description
There are several techniques to study noncooperative dynamic games, such as dynamic programming and the maximum principle (also called the Lagrange method). It turns out, however, that one way to characterize dynamic potential games requires to analyze inverse optimal control problems, and it is here where the Euler equation approach comes in because it is particularly well–suited to solve inverse problems. Despite the importance of dynamic potential games, there is no systematic study about them. This monograph is the first attempt to provide a systematic, self–contained presentation of stochastic dynamic potential games.
Author: Nicola Acocella Publisher: Cambridge University Press ISBN: 9780521586382 Category : Business & Economics Languages : en Pages : 546
Book Description
Recent developments in public economics have largely been in the direction of reaffirming the limits of the market and of establishing new ones. The possible existence of fundamental non-convexities, imperfect and asymmetric information, incentive compatibility, imperfect competition, strategic complementarity, and scale economies led to the conclusion that a large set of market failures exist; such situations also imply government failure. Acocella, considers this complicated picture and provides a discussion of the different approaches to establishing social 'rankings' of the possible situations and the underlying principles. The arguments for and against different institutions are then analysed at a micro and macroeconomic level. The market and the government are recognised as imperfect, and thus complementary, institutions. Specific policy targets and instruments are considered in the areas of micro and macro-economic policy. Special attention is devoted to questions of policy management in an open economy. Finally, problems of domestic and international policy co-ordination are considered.
Author: Maria Luisa Petit
Author: Maria Luisa Petit
Author: Josef Haunschmied
Author: Reinhard Neck
Author: R. Neck
Author: Engelbert J. Dockner
Author: Thomas A. Weber
Author: Nicola Acocella
Author: Herbert Dawid
Author: David González-Sánchez
Author: Nicola Acocella