Adaptive Control for Economic Models Revisited

David Kendrick

No 57, Computing in Economics and Finance 2005 from Society for Computational Economics

Abstract: This paper revisits an area of economic research that was very active some years ago and, after a quiet period, is once again becoming active. Adaptive control models consider not only additive uncertainty but also mulitplicative uncertainty in the model parameters as well as measurement error. In this context there is consideration of the effect of control (policy) action not only on reaching desireable targets but also on the learning effects on the parameters induced by the control action. Thus this area is also sometimes called "dual" control

Keywords: stochastic control; feedback control (search for similar items in EconPapers)
JEL-codes: C63 (search for similar items in EconPapers)
Date: 2005-11-11
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:sce:scecf5:57

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