RISK MINIMIZATION BY LINEAR FEEDBACK
- 1 March 1979
- journal article
- Published by Emerald Publishing in Kybernetes
- Vol. 8 (3) , 171-184
- https://doi.org/10.1108/eb005519
Abstract
This paper offers an introduction to dynamic economic planning under uncertainty, i.e. the use of econometric models together with mathematical optimization methods for the analysis and quantitative determination of optimal economic policies. The corresponding basic methodology (optimal feedback stochastic control of linear econometric models given a quadratic cost functional) is presented with particular regard to its practical application. The method is then applied for demonstration purposes to an econometric model of the Federal Republic of Germany.Keywords
This publication has 3 references indexed in Scilit:
- Optimal Control of Linear Econometric Systems with Finite Time HorizonInternational Economic Review, 1972
- Optimal Stochastic Control of Linear Economic SystemsJournal of Money, Credit and Banking, 1970
- Entscheidungskriterien bei RisikoPublished by Springer Nature ,1967