Active Learning, Control Theory, and Agricultural Policy

Gordon Rausser

American Journal of Agricultural Economics, 1978, vol. 60, issue 3, 476-490

Abstract: In the evaluation of key agricultural policies, a number of critical uncertainties arise for which little in the way of empirical evidence has been accumulated. The typical departmentalization within the agricultural economics profession fails to offer any hope of properly assessing these uncertainties. One approach that integrates the separate tasks of system analysis, econometric estimation, optimization and more pragmatic data collection and summarization efforts is adaptive control. This framework effectively combines the characteristics of dynamic systems, uncertainties, and the active accumulation of information. Implications are drawn for potentially rewarding applications in agricultural and natural resource economics.

Date: 1978
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Working Paper: ACTIVE LEARNING, CONTROL THEORY AND AGRICULTURAL POLICY (1977)
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Persistent link: https://EconPapers.repec.org/RePEc:oup:ajagec:v:60:y:1978:i:3:p:476-490.

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